Binance, one of the world's largest cryptocurrency exchanges, has selected Greece as its European regulatory home under the Markets in Crypto-Assets Regulation (MiCA) scheme. The company has chosen to operate in Greece due to its favourable labour force and security profile, which sets it apart from larger financial centres.
The decision by Binance comes as the company seeks to expand its presence in Europe, with a focus on becoming 'the most regulated' crypto exchange worldwide. To achieve this goal, Binance co-CEO Richard Teng has emphasized the importance of regulatory compliance and working closely with European authorities.
Teng noted that while Greece has yet to issue a MiCA license, the country's unique characteristics make it an attractive choice for the company. He also highlighted the need for crypto exchanges to consider factors beyond mere regulatory requirements, such as social and talent pool considerations.