Binance Withdraws Greek MiCA Application Amid ECB Pressure

Binance's application for a crypto license in Greece was withdrawn on June 24, after European Central Bank President Christine Lagarde personally urged Greek Prime Minister Kyriakos Mitsotakis against approving it. The WSJ reported that Lagarde raised concerns about Binance's 2023 guilty plea in the US, which resulted in a $4 billion settlement for violating money transmitting and sanctions laws.

Lagarde also worried that approving Binance could increase the use of US dollar stablecoins across Europe, which she has publicly spoken about as a concern. The WSJ said Lagarde personally intervened during licensing talks in June, as Greek regulators appeared close to approving the exchange's request.

Binance had reportedly been preparing to announce approval in late May, but instead withdrew its application before a final decision was issued. The company now says it is still seeking authorization through another EU member state.