Ex-Binance CEO CZ Criticizes Europe’s Slow Crypto Adoption

CZ Slams Europe’s Crypto Inertia at Token2049

During the Token2049 conference in Dubai on April 30, Changpeng “CZ” Zhao was highly critical of Europe’s cryptocurrency strategy. Ex-Binance CEO CZ declared that most European nations are not taking digital asset adoption seriously, describing the continent as “nowhere” on the global crypto map.

Zhao noted that while the world is learning about or implementing national crypto reserves and policies, European countries have remained largely dormant. “I don’t see Europe in this conversation,” he noted, noting the continent appears absent from significant debates shaping the future of the crypto space.

Montenegro: Europe’s Lone Crypto Advocate

Despite all this general complacency, Zhao did cite one notable exception—Montenegro. “Montenegro is actually very pro-crypto,” he said. “We had a good discussion with [the] prime minister there, and he’s a very forward-thinking guy.” In Zhao’s view, Montenegro is taking steps to invest in blockchain-based initiatives and engage with the global crypto community, setting an example for its European peers.

Global Leaders in Crypto Adoption

Zhao put Europe’s sluggish approach into perspective with stronger approaches elsewhere in the world. He praised the United Arab Emirates, particularly Dubai, as “extremely pro-business” and open to innovation in digital finance. He further noted the bold move of Bhutan in establishing state reserves in Bitcoin (BTC) and Ether (ETH) and being a progressive nation in crypto finance.

The United States, he said, is potentially indirectly influencing global crypto policies by going out of its way to research its own digital currency policies. In doing so, it’s applying pressure to other governments, but Zhao was disappointed that Europe was not playing along.

A New Chapter: Giggle Academy

Since stepping down as Binance CEO in late 2023—following legal action and a U.S. plea bargain—Zhao has concentrated on education. Having done a four-month prison stint in the U.S., he established Giggle Academy, a charitable institution for giving free basic education to underprivileged communities worldwide.

Though no longer at the pinnacle at Binance, Zhao remains an outspoken voice in the crypto world, urging policymakers globally—especially in Europe—to get more aggressive.