Lagarde Accused of Blocking Binance Crypto License Application

The European Central Bank (ECB) President Christine Lagarde has been accused of playing a role in blocking Binance's application for a crypto license under the EU MiCA regulations.

Binance, the world's largest cryptocurrency exchange, agreed to pay a $4.3 billion fine in 2023 after pleading guilty to breaches of the Bank Secrecy Act.

According to a Wall Street Journal report, Greece's financial regulator, the Hellenic Capital Market Commission (HCMC), had reviewed Binance's application and was preparing to approve it until Lagarde allegedly intervened.

A vice chair of the HCMC reportedly told Binance that Lagarde asked Greece's prime minister not to approve the application, citing concerns over Binance's compliance record.