Lagarde Blocks Binance's MiCA Bid Over Digital Euro Fears

Binance's bid for a MiCA license in Europe has hit a snag due to the intervention of ECB President Christine Lagarde.

Lagarde reportedly blocked Binance's application with Greece's regulator, HCMC, citing concerns over USD-based stablecoins and the impact on the Digital Euro, which is set for a test pilot from mid-2027 and an official launch in 2029.

The move has been seen as a blow to Binance's plans to operate in Europe, but the exchange has maintained that it will reapply for a license from another country, likely France.

Lagarde's intervention was reportedly driven by her desire to see the Digital Euro 'fit for the future', and some analysts have questioned whether Europe can apply its rules consistently and fairly.