Lagarde Blocks Binance MiCA Bid Amid Compliance Concerns

Binance's bid for a MiCA license in Greece has come under renewed scrutiny following reports that European Central Bank President Christine Lagarde personally pressed Greek Prime Minister Kyriakos Mitsotakis against approving the exchange's application.

The Wall Street Journal reported that Lagarde raised concerns about Binance's compliance and stablecoin issues, citing people familiar with discussions surrounding the application.

Lagarde's intervention is said to have occurred during June licensing talks, when Binance was preparing to announce an EU-wide regulatory approval through Greece. However, the exchange withdrew its Greek MiCA application on June 24 before regulators issued a formal rejection.