Lagarde Blocks Binance EU License Bid

European Central Bank (ECB) President Christine Lagarde intervened personally to block Binance's bid for an EU license, according to a report by the Wall Street Journal. The direct intervention came after Greek regulators had almost approved the application.

The ECB president asked Greek Prime Minister Kyriakos Mitsotakis to block Binance's license, highlighting regulatory and political risks for crypto centralized exchanges (CEX). This move raises questions about the extent of Lagarde's influence over a process in which she has no formal authority.

The direct intervention could hinder Binance's EU expansion, compliance prospects, and adoption. The news highlights the complex relationship between regulators and the crypto industry.