Cryptocurrency exchange Binance has chosen Greece as the regulatory hub for its EU operations in anticipation of new European Union crypto regulations.
According to Finance Feeds, Binance co-CEO Richard Teng announced that the exchange had approached the Greek regulator last month.
The application seeks to obtain an operating license under the European Union’s Markets in Crypto-Assets (MiCA) Regulation.
The MiCA regulation requires crypto companies to obtain licenses by July 2026. Companies without a license will not be able to operate within the EU.
Teng said the MiCA license provides a standard framework across Europe and therefore many factors such as workforce quality, talent pool and security are considered when selecting an operations center. It has been reported that Greece is considered a suitable base as part of the EU enlargement strategy.
On the other hand, Teng also spoke about the sharp fluctuations seen in the crypto market over the past year. Noting that Bitcoin has fallen about 50% from its peak of $126,000 in October last year, Teng said interest from individual investors has weakened, but institutional participation has remained stable. “Smart money, institutional capital and long-term funds continue to enter the market,” Teng said, emphasizing that regulatory clarity will strengthen the sector in the long term.
*This does not constitute investment advice.