Binance's Greek License Stalled: Compliance Met but Political Factors Intervened
In an interview with The Block, Binance founder Changpeng Zhao (CZ) disclosed that Binance's MiCA (Markets in Crypto-Assets) license application in Greece was fully compliant with regulatory requirements and close to approval before being withdrawn. The withdrawal was triggered by "external political factors" that interrupted the process. CZ noted that multiple EU countries had expressed interest in the license, even engaging in a degree of "competitive courting," but regulatory progress was hindered by non-regulatory influences, forcing the application's withdrawal. Binance has since switched focus to other EU member states to pursue MiCA authorization.
Regarding market rumors linking Binance to high-level EU political figures, CZ stated he had not seen any verifiable documents and only encountered similar claims online, declining to confirm them. He emphasized that compliance processes often require longer cycles, citing Japan and Singapore's regulatory journeys as examples.
MiCA Transitional Period Nears: Unlicensed Platforms Face Shutdown; CZ Calls It a "Lose-Lose Situation"
CZ pointed out that the EU MiCA transitional period ends on July 1, 2026. After this date, unlicensed platforms must cease operations. National regulators have made it clear they will not extend the deadline. He described the outcome as a "lose-lose situation," harmful both to Binance and the EU's crypto regulatory environment. CZ argued that regulators should work closely with the industry to avoid political factors undermining the compliance efforts of legitimate businesses.
CZ on STRC Preferred Shares: Overly Complex but Respects Saylor
When discussing Strategy's (formerly MicroStrategy) STRC preferred shares product, CZ remarked that its structure is "overly complex" and that he finds it difficult to fully understand the mechanics. However, he refrained from questioning Michael Saylor's credibility, calling Saylor a "staunch Bitcoin supporter." CZ's comments reflect the crypto industry's cautious stance toward complex traditional financial products and highlight market concerns about the risks of sophisticated structured instruments.