BNB
ECB President Reportedly Intervened to Block Binance's European Union Licensing Bid
Reports indicate Christine Lagarde personally asked Greek authorities to reject Binance’s MiCA application over past US compliance breaches and digital euro risks.
European Central Bank President Christine Lagarde directly urged Greek Prime Minister Kyriakos Mitsotakis to reject Binance's application for a European Union crypto license, according to a report by The Wall Street Journal. Binance had sought a crypto-asset service provider license in Greece under the EU Markets in Crypto-Assets framework, which permits an authorization secured in one member state to passport across the entire bloc.
Greek regulators at the Hellenic Capital Market Commission had informed the European Securities and Markets Authority in early June that they intended to grant the approval. An official at the Greek regulator subsequently informed Binance of Lagarde's intervention, leading the exchange to withdraw its application in mid-June ahead of a formal decision, and later halt marketing to EU users.
The reported opposition stemmed from Binance's prior guilty plea in the United States concerning money-laundering and sanctions violations, which Lagarde viewed as a compliance risk. She also reportedly expressed concern that Binance's market presence would accelerate the adoption of US dollar-backed stablecoins in Europe, potentially undermining the development of the ECB's planned digital euro. The ECB itself holds no statutory power over MiCA licensing, which rests with national regulators.
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