Binance has positioned Greece as a gateway to the European Union (EU), which is preparing to introduce crypto market regulations.
The move comes ahead of a July 2026 deadline that will require crypto companies to hold a MiCA license to continue operating in the EU.
This decision shows that Europe’s regulatory strategy is about more than speed and reflects considerations around talent, safety and expansion.
MiCA license strategy
Binance, which holds about $44 billion worth of Bitcoin in customer wallets, applied in Greece last month to operate across the EU under MiCA.
The regulation creates a single licensing framework across member states, allowing companies licensed in one country to passport services across member states.
Greece has not yet issued MiCA licenses.
According to official data, the German regulator has granted 45 licenses, while the Netherlands has issued 22 licenses.
That makes Greece an unconventional choice for the group, which has around 300 million users worldwide and has a regulatory base in Abu Dhabi.
Co-CEO Richard Teng said the license was standard across Europe.
He said the company evaluated the quality, safety, security and talent of the workforce when selecting locations.
Mr Teng, who previously worked as a regulator in Singapore and Abu Dhabi, said the timeline for approval was up to EU authorities.
Since taking over as CEO in November 2023, he has focused on positioning Binance as the world’s most regulated cryptocurrency exchange.
leadership and oversight
Binance’s regulatory stance continues to be monitored.
Founder Zhao Changpeng, known as CZ, pleaded guilty to violating U.S. money laundering laws.
The case resulted in nearly four months in prison and a $4.3 billion fine.
Mr. Zhao was pardoned by US President Donald Trump last year.
Mr Teng said he would remain a shareholder and would have to address questions about his return to the executive board directly.
In December, Binance appointed Zhao’s co-founder and longtime partner Yi He as co-CEO alongside Teng.
Teng said both leaders bring complementary strengths.
Sanctions concerns and market fluctuations
According to recent media reports, Binance investigators have identified evidence of $1.7 billion in cryptocurrency transfers involving sanctioned Iranian and Russian officials.
The report prompted an investigation by Democratic Connecticut Sen. Richard Blumenthal.
Mr Teng said the report was misleading.
He said the investigators mentioned in the report were fired for violating data handling policies, rather than for disclosing the alleged transfers.
Although he acknowledged that it is impossible to completely eliminate suspicious transactions taking place on blockchain networks, he reiterated that Binance does not provide services to residents of sanctioned countries.
This expansion unfolds against volatile crypto market conditions.
Bitcoin has fallen about 50% from its all-time high of just over $126,000 in October.
Binance injected $1 billion from its emergency fund in December to buy Bitcoin to help stabilize the market.
Teng said retail sentiment has weakened.
However, the participation of financial professionals has remained stable, and institutional investors have continued to inflow despite price fluctuations.
