Binance EU License Bid Blocked by ECB Pressure

Binance's bid for an EU-wide MiCA license through Greece has been blocked reportedly due to pressure from the European Central Bank (ECB).

The exchange had been seeking authorization under the Markets in Crypto-Assets regulation (MiCA) via Greece's Hellenic Capital Market Commission.

Citing concerns over Binance's compliance history and dollar stablecoins, ECB President Christine Lagarde intervened and reportedly asked Greek Prime Minister Kyriakos Mitsotakis to halt the authorization.

Binance has withdrawn its application and plans to seek an EU license elsewhere, which could delay crypto adoption and expansion in the EU.