Lagarde Blocks Binance EU License Bid Over Stablecoin Concerns

Binance's bid for a MiCA license through Greece has drawn renewed scrutiny after The Wall Street Journal reported that European Central Bank President Christine Lagarde personally intervened to block the application.

The report, which cited people familiar with the discussions, said Lagarde raised concerns about Binance's previous U.S. criminal case and its use of U.S. dollar stablecoins in Europe, which she linked to the ECB's efforts on European monetary sovereignty and the planned digital euro.

Binance had been preparing to announce an EU-wide regulatory approval through Greece after officials told the company its application was complete, but the exchange ultimately withdrew its application before a final decision was made.