Background: The Inside Story of Binance's Greek MiCA License Application
According to a report by The Block, Binance founder Changpeng Zhao (CZ) disclosed in an interview that the exchange's MiCA (Markets in Crypto-Assets) license application submitted in Greece had been fully compliant with regulatory requirements and was close to receiving approval before being withdrawn. The process was interrupted due to "external political factors" that forced Binance to withdraw its application. CZ stated that several EU countries had expressed interest in the license, even engaging in a degree of "competitive bidding," but ultimately the regulatory push was affected by non-regulatory factors, leading to the retreat.
Regulatory Dynamics: MiCA Transition Period Ends July 1, Binance Turns to Other Member States
Binance last week formally withdrew its MiCA application in Greece and announced it would pursue MiCA authorization through other EU member states. CZ noted that the EU MiCA transition period ends on July 1, after which platforms without a license must cease operations. National regulators have made clear that no extensions will be granted. He characterized the outcome as a "lose-lose situation" and cited the regulatory journeys of Japan and Singapore as examples, emphasizing that compliance processes often require longer timeframes.
Regarding market rumors linking him to high-level EU political figures, CZ responded that he had not seen any verifiable documents and only encountered unconfirmed claims online.
Other Comments: Criticism of Strategy's Preferred Stock Structure
When discussing the STRC preferred stock product issued by Strategy (formerly MicroStrategy), CZ described its structure as "overly complex" and said he had difficulty fully understanding its mechanics. However, he made it clear that he does not question the credibility of founder Michael Saylor, calling him a "staunch Bitcoin supporter."