The Currency analytics
By dan saada
Binance chose Greece. The crypto exchange's co-CEO Richard Teng said the decision came down to workforce quality and security factors when applying for a European MiCA license…
Teng spoke at the GFTN Forum in Tokyo and laid out why Greece beat other EU countries for Binance's regulatory home base.
Many crypto watchers figured Binance would pick Latvia or Lithuania for their EU operations. But Teng said Greece offers better long-term advantages for major European business.
Greece hasn't issued any MiCA licenses yet, which means Binance is betting on an untested regulatory environment.
"We don't serve residents from sanctioned countries and we've improved our compliance checks," Teng said during the Tokyo forum.
Recent reports suggested crypto transfers involving Iranian and Russian entities went through Binance systems.
And the MiCA deadline is creating pressure across the industry. Exchanges scramble to secure licenses before July 2026 or risk losing access to European customers.
Teng noted Greece's growing reputation as an international business hub influenced their decision.
But there's more complexity here. The European Securities and Markets Authority watches how major exchanges adapt to MiCA requirements.
Binance's application sits under review by Greek financial authorities right now. They're checking whether the exchange meets all necessary criteria for MiCA compliance.
So far, the timeline remains unclear. Greek regulators didn't specify how long reviews typically take for major exchanges.
The choice of Greece also reflects broader trends in crypto regulation. Smaller EU countries often move faster on licensing decisions compared to larger financial centers.
Industry watchers think Binance's Greece bet could pay off if the country develops efficient licensing procedures.
Teng emphasized that regulatory alignment remains Binance's top priority as the July 2026 deadline approaches.
Market conditions add urgency to the licensing process. Crypto trading volumes have surged in recent months, making EU market access even more valuable for major exchanges.