Lagarde Blocks Binance's EU Crypto License Bid

European Central Bank President Christine Lagarde reportedly intervened to block Binance's bid for an EU-wide crypto license through Greece. According to The Wall Street Journal, Binance had been working closely with Greece's financial regulator on a license under the EU's Markets in Crypto Assets (MiCA) rules.

Greek officials had told Binance that its application was complete and the company was preparing to announce approval. However, after Lagarde allegedly got involved, Binance withdrew its application and started looking for another EU country to launch from.

The reasons behind Lagarde's reported position are twofold: Binance's regulatory record in the US, where it pleaded guilty to financial crime violations in 2023 and paid a $4.3 billion fine, and her concern about the influence of US dollar-based stablecoins in Europe.