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Binance sees most EU withdrawals shift to self-custody after MiCA

The Block reports Richard Teng said 70% of EU withdrawals after Binance’s service suspension moved to self-custody, versus 30% to MiCA-regulated platforms.

Reported · Written up by our desk · Regulation

Binance co-CEO Richard Teng said that after the EU market deadline tied to the MiCA framework, most withdrawals from the region were moved to self-custody rather than staying on regulated crypto platforms, according to The Block.

Teng said 70% of EU user withdrawals following Binance’s service suspension went to self-custody, while 30% went to licensed platforms under MiCA.

He characterized the shift as a change in how EU users handled holdings in the wake of the suspension tied to the regulatory deadline, The Block reported.

The comments underscore the impact of MiCA implementation on crypto market structure in the EU, particularly how users manage assets after access changes.

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