Binance, the world’s largest cryptocurrency exchange, has reaffirmed its commitment to the European Union while accelerating efforts to secure additional regulatory licences across Asia, despite recent setbacks under the bloc’s new crypto regulatory framework. Speaking at the Reuters NEXT Asia conference in Singapore, Binance Co-Chief Executive Officer Richard Teng said the company remains committed to serving European customers and is actively engaging regulators as it explores alternative pathways to obtain authorisation under the Markets in Crypto-Assets (MiCA) regulation.
Binance recently withdrew its MiCA licence application in Greece after what Teng described as a lengthy and uncertain approval process. Rather than exiting the European market, the company plans to submit a new application in another EU member state before the regulatory transition is completed. At the same time, Binance is expanding its presence in Asia by pursuing new operating licences and strengthening partnerships across key markets, including the Philippines, as part of its broader strategy to grow in jurisdictions with clearer digital asset regulations.
The company’s expansion comes amid a challenging period for the cryptocurrency industry, with digital asset prices remaining volatile and regulators worldwide tightening oversight of crypto exchanges. Despite those headwinds, Teng said Binance has recorded a 9% increase in institutional clients and a 7% rise in overall new users this year, reflecting growing institutional participation and continued confidence in the long-term development of the digital asset market. He added that stronger regulatory frameworks are helping to mature the industry by encouraging greater transparency and investor protection.
For the global cryptocurrency sector, Binance’s dual strategy highlights the growing importance of regulatory compliance as exchanges compete for long-term market access. Analysts say the company’s continued investment in both Europe and Asia demonstrates that obtaining licences in major financial markets has become as critical to future growth as technological innovation, particularly as governments introduce more comprehensive rules for digital assets.
