Lagarde Blocks Binance's EU License Bid Over Compliance Fears
European Central Bank President Christine Lagarde reportedly opposed Binance's bid to secure an EU crypto license, citing concerns over compliance and stablecoin risks. The exchange had sought authorization as a crypto-asset service provider through Greek regulators under the MiCA framework.
Lagarde's reported concerns were partly linked to Binance's previous legal troubles in the United States, where it pleaded guilty in 2023 to violations involving U.S. anti-money laundering and sanctions rules as part of a multibillion-dollar settlement.
She also reportedly worried that expanding Binance's presence across the EU could encourage greater adoption of U.S. dollar-denominated stablecoins, potentially complicating European efforts to strengthen the euro's role in digital payments.