Binance's Greek MiCA License: Compliant but Stalled by Political Intervention
Binance founder Changpeng Zhao (CZ) disclosed the inner workings of the company's withdrawal of its MiCA license application in Greece during a recent interview. According to The Block, CZ stated that before the withdrawal, the application was fully compliant with EU regulatory requirements and close to receiving approval. However, the process was disrupted due to 'external political factors.' CZ noted that several EU countries had expressed interest in hosting the license, even engaging in 'competitive bidding,' but non-regulatory forces ultimately forced Binance to retract the application.
Binance formally withdrew its Greek application last week and stated it would pursue MiCA authorization through other EU member states. CZ emphasized that Binance already has compliance progress in Spain, France, and other countries, and the Greek withdrawal does not signify an exit from the EU market.
Denial of Ties with EU Political Figures
Addressing rumors of connections between Binance and high-ranking EU politicians, CZ said he has seen no verifiable documents and only encountered unconfirmed claims online. He reaffirmed that Binance prioritizes compliance and is willing to undergo scrutiny under any regulatory framework.
MiCA Transition Period Ends July 1: No Extensions
CZ highlighted that the transition period for the EU's Markets in Crypto-Assets (MiCA) regulation ends on July 1. After that, unlicensed platforms must cease operations. National regulators have made it clear they will not grant extensions. CZ described the outcome of the Greek license withdrawal as a 'lose-lose' situation, citing Japan and Singapore as examples where regulatory compliance required a longer timeline. Binance remains committed to long-term investment in compliance.
Skepticism Toward Strategy's STR Preferred Stock
When commenting on Strategy's (formerly MicroStrategy) STRC preferred stock product, CZ said its structure is 'too complex' for him to fully understand. However, he refrained from judging founder Michael Saylor's credibility, calling Saylor a 'staunch Bitcoin supporter.' CZ believes crypto financial products should prioritize simplicity and transparency to reduce investment risks.