Lagarde's Intervention Blocks Binance EU License Bid

Binance's bid to secure an EU license through Greece has been dealt a significant blow after reports emerged that ECB President Christine Lagarde personally lobbied against the move.

The development comes as Binance had spent over a year trying to establish a presence in Europe, with its application submitted just before the end of 2025. Greek regulators had indicated they would approve the application in early June, but instead, the company withdrew its bid without official rejection.

The issues that led Lagarde to intervene included Binance's track record of financial crimes in the US, specifically its guilty plea to money laundering and sanctions violation charges in 2023. The settlement entailed a $4.3 billion fine and increased compliance oversight.

Lagarde also expressed concerns about the potential for dollar-backed stablecoin usage in Europe, which could impact the development of the European digital euro project.