Regulators invited Binance to seek new licenses after MiCA setback, co-CEO says
Binance is in talks with regulators in several jurisdictions after withdrawing its Greece application for a MiCA crypto license. Co-CEO Richard Teng said the discussions are still early and did not name the countries. He said Binance had submitted a compliant application in Greece but withdrew it after delays, to avoid leaving users with too little time during the EU transition period. Teng also said MiCA may be pushing users toward self-custody instead of licensed exchanges: he claimed 70% of EU funds withdrawn from Binance went to self-hosted wallets, while 30% moved to MiCA-regulated entities. He questioned whether that supports MiCA’s consumer-protection goals. Outside Europe, Binance says it is expanding its regulatory presence in Asia, including through a recent Philippines partnership.
