The world’s largest cryptocurrency exchange, Binance, which manages approximately $44 billion in bitcoin on behalf of customers and serves roughly 300 million users worldwide, has selected Greece as the base for its European Union regulatory authorization, an unexpected move given the country’s limited track record in crypto licensing.

Speaking in Tokyo at the GFTN Forum, co-CEO Richard Teng confirmed that the company submitted its application last month in Greece under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework. The regulation…