Binance EU Users Prioritize Self-Custody Following MiCA Deadline
Binance EU Users Prioritize Self-Custody Following MiCA Deadline
Binance's co-CEO, Richard Teng, revealed that a significant majority—70%—of EU user withdrawals after the service suspension moved to self-custody solutions, with only 30% transitioning to MiCA-regulated platforms. This trend highlights a strong preference for personal control over digital assets among users in the European Union.
Binance EU Withdrawals See Overwhelming Shift to Self-Custody Post-MiCA
Richard Teng, co-CEO of the prominent cryptocurrency exchange Binance, shared key insights into user behavior following the Markets in Crypto-Assets (MiCA) deadline in the European Union. According to Teng, a substantial 70% of EU user withdrawals from the platform, subsequent to its service suspension, were directed towards self-custody solutions. This figure starkly contrasts with the mere 30% of withdrawals that went to platforms regulated under the MiCA framework, indicating a strong inclination among users to maintain direct control over their digital assets rather than relying on licensed third-party platforms in the regulated environment.