Binance chose Greece as its EU regulatory base, submitting its application before the MiCA deadline.

PANews reported on February 26th that, according to Finance Feeds, Binance co-CEO Richard Teng revealed that the exchange submitted an application to Greek regulators last month to obtain an operating license under the EU's Crypto Asset Market Regulation (MiCA). MiCA requires crypto companies to obtain a license by July 2026 to operate within the EU. Teng stated that MiCA licenses are standardized throughout Europe, therefore multiple factors such as labor force, talent pool, and security must be considered, and Greece is seen as a suitable base for expansion within the EU.

The crypto market has experienced significant volatility over the past year, with Bitcoin falling by about 50% from its high of $126,000 in October last year. Teng noted that retail investor sentiment has weakened, but institutional participation has remained stable, with "smart money, institutional funds, and long-term funds continuing to invest."