Lagarde Blocks Binance's Bid for EU Crypto License via Greece
Christine Lagarde, President of the European Central Bank (ECB), reportedly intervened to block Binance's bid for an EU-wide crypto license through Greece. According to a Wall Street Journal report, Binance had been working closely with Greece's financial regulator on a license under the EU's Markets in Crypto Assets (MiCA) rules.
The company had spent months on its application and was preparing for a public launch, even planning a photoshoot with Greek Prime Minister Kyriakos Mitsotakis. However, after Lagarde allegedly got involved, Binance withdrew its application before the Greek regulator could formally reject it.
Binance's CEO Richard Teng stated that the company would pursue authorization in another EU country instead, and repeated that Europe was still a priority. The exchange said it did not have documented proof of a personal order from Lagarde but claimed the application faced political pressure.
The reasons behind Lagarde's reported position included Binance's regulatory record in the US, where the exchange pleaded guilty to financial crime violations and paid a $4.3 billion fine as part of the settlement.