Binance picks Greece as EU home for labor strength and security, Teng says

Binance selected Greece as its base for European operations under the EU’s Markets in Crypto-Assets framework and has filed for a license there, aiming to operate across the bloc once the regime is fully in place. Co-CEO Richard Teng outlined the rationale in Tokyo at the GFTN Forum, pointing to Greece’s labor market and security profile.

Under MiCA, crypto companies must obtain authorization by July 2026 to keep serving customers in the European Union. Greece has not yet issued a MiCA license, while regulator data show dozens granted in larger markets such as Germany and the Netherlands, making Greece an unconventional location. Teng said the standardization of MiCA across the EU allowed Binance to weigh non-regulatory factors when selecting a base.

“The license is pretty standard throughout Europe, so we have to think through many other factors, whether it’s social, whether it’s talent pool, safety and security issues,” he explained. “Greece is where we think will be a good base for us to expand in Europe.”

Teng also addressed scrutiny of the exchange’s controls. Recent accounts alleged internal findings about crypto transfers involving Iranian and Russian actors, prompting an inquiry from U.S. Senator Richard Blumenthal. Teng rejected those accounts as misleading and stated that the investigators referenced were terminated for breaching data-handling policies, not for uncovering suspect transfers. “We do not serve residents of sanctioned countries,” he noted, while acknowledging it is not possible to fully eliminate suspicious activity on public blockchains.

Since taking over in November 2023, Teng has emphasized work to strengthen compliance and governance, stating he wants Binance to be the “most regulated” major crypto exchange. In December 2025, Binance named co-founder Yi He as co-CEO alongside Teng. He described the leadership change as a natural progression for a growing firm and said he and Yi He bring complementary strengths to the role.

Teng observed that retail sentiment toward crypto has softened over the past year, while participation from professional investors has remained steady. “The smart money, the institutional money, the long-term money still continues to invest,” he added.