Binance Co-CEO Questions MiCA After EU User Withdrawals
The post Binance Co-CEO Questions MiCA After EU User Withdrawals appeared on BitcoinEthereumNews.com. Most European users who withdrew assets from Binance after its EU service suspension chose self-custody instead of regulated exchanges. Binance co-CEO Richard Teng said roughly 70% of withdrawals moved into private wallets, while only 30% reached MiCA-licensed trading platforms. The trend suggests many users prioritized direct control over their digital assets despite the European Union’s push for stronger oversight under its Markets in Crypto-Assets framework. Consequently, the migration has renewed debate about whether tighter regulations can achieve their intended consumer protection goals. Teng Questions MiCA’s Practical Impact Teng argued that funds held in self-custodied wallets no longer remain within regulated compliance systems. Consequently, authorities lose visibility through anti-money laundering and know-your-customer monitoring that licensed exchanges provide. Binance h