BINANCE SAYS IT REMAINS COMMITTED TO EU LICENSING WHILE SEEKING ASIA EXPANSION

Binance remains committed to obtaining authorization in the European Union under the bloc's Markets in Crypto-Assets regulation, even after withdrawing a license application in Greece, according to Reuters. Co-CEO Richard Teng told Reuters that the cryptocurrency exchange is still in discussions with EU regulators and plans to apply for authorization through another member state before the regulatory deadline.

Reuters reported that Binance withdrew its Greek application after delays made approval less certain before the July 2026 deadline. Teng said the company made the decision to avoid disruption for EU users and said Binance believes its application was compliant with the EU's regulatory requirements.

The EU's Markets in Crypto-Assets framework, known as MiCA, requires crypto firms serving European users to obtain authorization and meet regulatory standards covering governance, consumer protection, reserves, market conduct and anti-money-laundering controls. Reuters reported earlier this year that Binance had chosen Greece as its intended EU regulatory base, with Teng citing the country's workforce and safety as advantages.

The licensing setback has created a significant test for Binance's European strategy. The Financial Times reported that Binance would stop providing services to EU clients after failing to secure a MiCA license before the deadline, while the company said users' assets remained secure and that it still planned to obtain EU authorization.

The Wall Street Journal reported that Binance faced regulatory concerns linked to financial-crime controls and its past legal history as EU authorities weighed the application. Binance has previously paid a $4.3 billion settlement with U.S. authorities over anti-money-laundering and sanctions violations, and founder Changpeng Zhao stepped down as chief executive after the U.S. case, according to earlier reporting summarized by multiple financial outlets.

Teng told Reuters that Binance is also expanding in Asia, including through a partnership in the Philippines with fintech firm Blockshoals Technologies. Reuters reported that Binance is seeking additional licenses and partnerships across the region as it tries to grow in markets where digital-asset rules are becoming more formalized.

Reuters reported that Teng said trading in tokenized U.S. assets on Binance-linked platforms had exceeded $3 billion, pointing to continued demand for crypto products tied to traditional financial markets. He also said institutional clients on Binance had increased 9% this year, according to Reuters, despite a broader downturn in crypto prices.

The company is trying to manage two pressures at once: regulatory restrictions in major markets and continued demand from users and institutions. Reuters reported that Bitcoin has lost nearly 30% this year and fallen more than 50% from its 2025 peak, while Teng said he remained optimistic about the long-term outlook for the crypto industry.

The immediate question is whether Binance can secure an EU license quickly enough to restore full access for European users while continuing its Asia expansion. Regulators will be watching Binance's compliance controls, governance structure and financial-crime safeguards, while competitors with existing MiCA authorization may try to win customers during the transition.

Fact-check date: 10 July 2026
Article type: News
Sources: Reuters, Financial Times, Wall Street Journal, EU MiCA regulatory reporting