Lagarde Blocks Binance EU License Bid Amid Digital Euro Fears
European Central Bank President Christine Lagarde personally intervened to block Binance's bid for an EU license, according to a recent report.
The application had cleared its technical review by early June, and Greece's Hellenic Capital Market Commission (HCMC) was preparing notifications to other member states. However, Lagarde opposed the license, reportedly citing Binance's guilty plea to US money laundering and sanctions violations as well as a fear that allowing the exchange into Europe would push more people towards dollar stablecoins.
Lagarde's intervention came despite Greece's own finance minister having given the application a green light. Some speculate that Lagarde may have been swayed by Greek election timing, which could have influenced her decision to block Binance's bid.