What BTSE is
BTSE is a financial technology company founded in 2018 by Jonathan Leong and Brian Wong, which runs a multi-asset cryptocurrency exchange: spot, margin futures including in fiat currencies (USD, EUR, GBP and others), OTC and white label services — its infrastructure sits behind dozens of third-party exchanges and wallets. Born as a platform oriented towards derivatives and multi-asset collateralisation, it moved its corporate base from Dubai to the British Virgin Islands in 2020. Today the group is led by CEO Henry Liu, alongside COO Jeff Mei: Jonathan Leong no longer holds the role of CEO and the two founders' current role in the group is not publicly documented. (Verified: September 2026)
Regulation and licences
- MiCA: NOT FOUND — as at the verification date BTSE does not appear among the CASPs authorised in the ESMA register. Since 01/07/2026, with the end of the transitional regime, this means that it is not a platform authorised to offer crypto services to EU clients: it is not a regulated option. (Verified: September 2026)
- In May 2023 the subsidiary BTSE AG had obtained a registration with the FMA of Liechtenstein under the TVTG law, a national regime predating MiCA. With the end of the transitional period, the FMA announced that from 2 July 2026 TVTG registrations lapsed for all activities subject to MiCA authorisation. BTSE AG does not appear in the ESMA register of authorised CASPs. (Verified: October 2026)
- Corporate base: British Virgin Islands (the transfer from Dubai began in 2020); the UAE central bank had at the time clarified that BTSE was not licensed by it.
Security
There are no significant public breaches of customer funds as at the verification date. The structural limits of an offshore operator remain: without EU authorisation, MiCA protections do not apply (segregation to European standards, supervision by an EEA authority, complaints in a European forum).
Alternatives
For those who want to operate with platforms authorised in the EU:
- Kraken — full MiCA licence via the Central Bank of Ireland
- Bybit — MiCA licence via the Austrian FMA; strong on derivatives
- OKX — MiCA licence via Malta (MFSA)
FAQ
- Is BTSE legal for an EU user? BTSE does not appear to be authorised as a CASP under MiCA: since 01/07/2026 it cannot legally offer crypto services to EU clients. Anyone using it operates on an offshore platform without European protections.
- Who leads BTSE today? The CEO is Henry Liu; co-founder Jonathan Leong no longer holds the role of CEO. The COO is Jeff Mei.
- Where is BTSE based? Its corporate base is in the British Virgin Islands, after the move from Dubai. The subsidiary BTSE AG had a registration in Liechtenstein under the national TVTG regime, which lapsed on 2 July 2026 for activities subject to MiCA. (Verified: October 2026)
Verified sources
- https://www.fma-li.li/en/news/end-of-the-transition-period-under-micar-1655
- https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv
- https://www.financemagnates.com/cryptocurrency/news/btse-moves-base-from-dubai-to-the-brit
- https://finance.yahoo.com/news/btse-secures-digital-assets-regulatory-120000378.html
- https://cryptoslate.com/people/henry-liu/
- https://consensus-hongkong2025.coindesk.com/agenda/speaker/-henry-liu
