Binance CEO assures user asset safety as MiCA comes into force

With the European Union's Markets in Crypto-Assets (MiCA) regulation taking full effect on July 1, Binance CEO Richard Teng has stated that user assets remain securely stored, even though the exchange has not yet obtained a license under the new framework. Teng explained on X that after July 1, affected users can still take necessary actions according to previous guidance, and withdrawals are available for eligible individuals. He added that the exchange is communicating closely with regulatory authorities to manage the transition to MiCA. Meanwhile, Binance founder Changpeng Zhao (CZ) previously claimed that the company's application for a MiCA license in Greece was rejected due to political intervention.