Lagarde Blocks Binance's EU License Bid Through Greece

Binance's bid for a Europe-wide crypto license through Greece has collapsed after European Central Bank President Christine Lagarde reportedly intervened against the application.

The reported intervention is significant because Greece was not simply another market for Binance. Approval there could have provided the regulatory foundation for the exchange to operate across the European Union under the bloc's crypto framework, MiCA.

Under the European Union's Markets in Crypto-Assets regulation, known as MiCA, a crypto company that receives authorization in one member state can generally use that license to offer regulated services across the bloc. For Binance, that meant a Greek license could have provided a regulatory base for access to a market of about 450 million people.