Wu Blockchain (@WuBlockchain): Binance CEO: 70% of EU User Withdrawals Moved to Self-Custodied Wallets After MiCA Exit

Binance CEO: 70% of EU User Withdrawals Moved to Self-Custodied Wallets After MiCA Exit Binance CEO Richard Teng said that following the exchange’s suspension of services in the European Union due to MiCA licensing issues, around 70% of funds withdrawn by EU users were transferred to self-custodied wallets, while only 30% moved to MiCA-compliant regulated platforms. Teng argued that the migration toward self-custody raises questions about whether MiCA is achieving its intended consumer protection goals, as self-hosted wallets operate outside the oversight applied to licensed exchanges. He added that several EU jurisdictions have invited Binance to apply for local licenses, while the company continues to expand its presence in Asia.