Summary
- Global cryptocurrency exchange Binance said it has chosen Greece as its European Union (EU) business base.
- Binance said it submitted an application in Greece last month to obtain an EU Markets in Crypto-Assets (MiCA) license.
- Greece has not yet approved a single MiCA license, while Germany has already issued 45 MiCA licenses, the report said.
Forecast Trend Report by Period
Global cryptocurrency exchange Binance has chosen Greece as its business hub in the European Union (EU).
According to foreign media outlets including BlockBeats on the 26th (local time), Binance submitted an application in Greece last month to obtain an EU Markets in Crypto-Assets (MiCA) license. MiCA is the EU’s comprehensive crypto-asset regulatory framework. It stipulates that crypto-asset firms must obtain a license by July this year to continue operating in the EU.
The backdrop to Binance’s decision to pick Greece as its EU base is multifaceted. Richard Teng, Binance’s co-chief executive officer (CEO), said, “In the process of selecting a European regulatory base, Greece’s labor force and public safety conditions were more competitive than those of larger financial centers.”
Attention is now on whether Binance will become the first company to secure a MiCA license in Greece, as the country has yet to approve a single MiCA license application. This stands in contrast to Germany, which has already issued 45 MiCA licenses.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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