OKX CEO Star Xu publicly disputed Binance founder Qiao Changpeng’s feedback concerning the alternate’s failure to acquire a marketplace for cryptocurrencies (MiCA) license in Greece, because the European Union prepares for the complete implementation of the MiCA regulatory framework on July 1.
The alternate between the 2 executives comes at a essential time for Europe’s crypto business, the place crypto service suppliers are required to function underneath MiCA authorization with the intention to proceed providing regulated companies throughout the European Financial Space (EEA).
Star Xu questions Binance’s place on MiCA license
Qiao Changpeng, popularly referred to as CZ, was instructed that Binance’s MiCA utility in Greece was totally compliant and was near approval till what he referred to as “different forces” prevented the method from shifting ahead. After withdrawing its utility in Greece final week, Binance introduced its intention to hunt approval in one other European Union member state.
What an enormous loss? What’s the price to European regulators and European residents? What precisely did the Europeans lose? October eleventh once more?
Based on public reviews, the corporate has didn’t exhibit that its AML, sanctions compliance, and market integrity packages are efficient and… https://t.co/H4zlUweOMo
— Star_OKX (@star_okx) June 29, 2026
In response to X, Star Xu questioned Zhao’s description of the end result as a “loss for Europe.” he requested:
“What a terrific loss? A loss for European regulators and European residents alike?”
Xu mentioned there are revealed reviews suggesting that Binance has not demonstrated that its anti-money laundering controls, sanctions compliance measures, and market integrity packages meet regulators’ expectations. He added that the alternate ought to as an alternative examine why it didn’t obtain regulatory approval.
He additionally mentioned portray Europe because the loser following the withdrawal of the applying raised broader questions in regards to the firm’s method to monetary regulation and the rule of legislation.
A rising variety of exchanges are MiCA compliant and serve EEA customers by way of licensed EU entities.
Based on public reviews, Binance continues to serve most customers in EEA international locations by way of offshore entities. If that’s correct, it raises vital questions akin to… https://t.co/UXRf1sccZc
— Star_OKX (@star_okx) June 29, 2026
In a separate publish, Xu mentioned extra crypto exchanges are selecting to grow to be MiCA compliant by serving EEA prospects by way of licensed European entities. He additionally mentioned that if public reviews claiming that Binance continues to serve customers in most EEA international locations by way of offshore entities are correct, additional regulatory questions will come up.
Xu then responded to criticism over the best way the MiCA withdrawal was introduced, calling Binance’s public message one other instance of “deceptive the general public by way of false or deceptive statements.”
Binance pronounces nearing approval
In an interview, Chao mentioned two European Union international locations have expressed curiosity in internet hosting Binance’s MiCA utility, explaining that licensing discussions contain “backwards and forwards” between jurisdictions.
He mentioned there was competitors between the 2 EU member states concerning Binance’s utility, and claimed that approval was in the end blocked by exterior opposition.
Mr. Zhao additionally referred to on-line claims suggesting that European Central Financial institution President Christine Lagarde influenced the licensing determination. He mentioned he had seen such reviews circulating however had no documentation or direct proof to assist these claims.
Binance co-CEO Richard Teng reiterated that the corporate stays dedicated to securing MiCA licenses within the coming months. The alternate additionally mentioned entry to buyer property will proceed whereas it adjusts companies for European customers in the course of the regulatory transition.
July 1st MiCA deadline marks vital regulatory milestone
The general public disagreement comes simply forward of the European Union’s July 1 deadline to implement MiCA, underneath which crypto firms working with out a license should cease providing sure regulated crypto companies until they obtain approval from regulatory authorities in member states.
Underneath MiCA, licensed crypto asset service suppliers can use passporting rights to legally supply companies to all EU member states after acquiring authorization in a single jurisdiction. The framework is designed to create a unified regulatory regime for the European cryptocurrency market.
Based on the newest out there figures, the regulator had accepted 244 MiCA licenses as of Monday. Germany obtained probably the most approvals amongst member states with 57, whereas Greece, Hungary, Poland, Portugal and Romania had not but issued a MiCA license.
The approaching regulatory deadline is predicted to speed up licensing efforts amongst crypto exchanges searching for uninterrupted entry to European markets underneath the bloc’s new regulatory framework.
Spain lately confirmed that it’s going to not lengthen the July 1st MiCA deadline that requires unlicensed crypto firms to droop regulated companies. The choice strengthens the EU’s rollout of MiCA as firms race to win regulatory approval.
