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Binance says it is in close talks with EU regulators on MiCA licence

Binance says it is in close talks with EU regulators on MiCA licence

Richard Teng said Binance paused some EU services at the MiCA deadline, with roughly 70% of related withdrawals going to self-custody and 30% to licensed platforms, as the exchange keeps engaging EU regulators and expands in Asia.

Fact Check
All three claim elements are corroborated. Reuters directly confirms Teng's 'close talks' with EU regulators over MiCA and the Greek application withdrawal. Cointelegraph confirms the Greek withdrawal amid unexplained delays and the 70%/30% self-hosted wallet split. The WatcherGuru X post independently reports the 70% self-hosted wallet figure. Multiple secondary outlets echo the same language, and the regulators being 'unnamed' matches Cointelegraph noting jurisdictions were not identified.
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Summary

Binance said it remains in talks with European regulators on a Markets in Crypto-Assets Regulation, or MiCA, licence after withdrawing its application in Greece, while stepping up compliance licence applications across Asia. Speaking at the Reuters NEXT Asia conference in Singapore, co-CEO Richard Teng said the exchange pulled its Greece filing because approval delays would have left users with a very short transition period after the EU's MiCA transition expired on July 1, rather than because of any strategic retreat, and said Binance remains in contact with EU regulators without naming the jurisdictions. He added that after Binance paused some EU services at the MiCA transition deadline, about 70% of related user withdrawals went to self-custody wallets and about 30% to licensed compliant platforms, which he said may highlight practical challenges for MiCA in reducing user risk. Beyond Europe, Teng said Binance is building on Japan and India, accelerating applications for more compliance licences in Asia, and has entered the Philippines market through a partnership with BlockShoals Technologies.

Terms & Concepts
  • MiCA: The European Union's crypto regulatory framework that creates a single licensing regime for digital-asset firms across the bloc.
  • self-custody wallets: Crypto wallets controlled directly by users instead of being held by an exchange or other third-party custodian.
  • compliance licences: Regulatory approvals that allow a company to operate in line with local legal and supervisory requirements.