At Token2049, Changpeng Zhao criticizes Europe for its inertia in adoption

At the Token2049 conference in Dubai on April 30, Changpeng “CZ” Zhao, former CEO of Binance, did not mince his words

At the Token2049 conference in Dubai on April 30, Changpeng "CZ" Zhao, the former CEO of Binance, did not mince his words as he criticized Europe for its almost complete absence in the crypto adoption debate.

According to Zhao, while countries like the United Arab Emirates or Bhutan are accumulating bitcoin and ethereum as strategic reserves, European countries are making no progress.

"I don't see Europe in this discussion," he stated pointedly.

The only notable exception according to him: Montenegro, whose Prime Minister is "visionary and open." The country also aims to become a center of blockchain innovation. But for the rest of the continent, the lack of concrete commitment to crypto is glaring.

"It seems like no one in Europe is applying for a crypto license. They prefer to wait for the regulations to be fully implemented, which will take time," he explained.

The European Union is gradually rolling out the MiCA regulatory framework, launched in December 2024, which will govern crypto markets. However, no coordinated bitcoin reserve project has yet emerged, despite the Czech National Bank mentioning an investment of 7 billion dollars in a bitcoin reserve in January 2025. Unfortunately, BTC volatility poses a real obstacle to this adoption.

In contrast, the United States is progressing on this issue with several legislative initiatives at the federal and state levels.

As recently as April 2025, Arizona took a decisive step toward adopting bitcoin as a strategic asset. On April 28, the state legislature approved two bills, SB1025 and SB1373, allowing the state treasurer to invest up to 10% of public funds in crypto assets, including BTC.

These measures now await Governor Katie Hobbs' signature to take effect. This precisely confirms Changpeng Zhao's remarks: the world is moving, but Europe is slow to follow. A harsh assessment from CZ, who is never afraid to speak his mind and prefers to be critical rather than complimentary.

While nations like the U.S. and U.A.E are making bold moves, Europe seems to be frozen in observation, or worse, might even ban bitcoin. Changpeng Zhao's criticisms now sound like a warning: without a quick response, the Old Continent risks losing its place in the new digital economy driven by cryptocurrencies.