Lagarde Blocks Binance from EU-Wide Crypto License Bid Through Greece
Binance's bid for an EU-wide crypto license through Greece has collapsed after European Central Bank President Christine Lagarde reportedly intervened against the application. The Wall Street Journal reported on September 17 that Lagarde urged Greek Prime Minister Kyriakos Mitsotakis not to support Binance's application, just as the exchange appeared close to securing approval from Greece's Hellenic Capital Market Commission (HCMC).
The ECB has not publicly confirmed that Lagarde made such a request, while Greek authorities have maintained that the HCMC assessed Binance independently under applicable Greek and EU rules. However, sources close to the matter suggest that Lagarde's intervention was significant in blocking Binance's bid for an EU-wide license.
Under the European Union's Markets in Crypto-Assets regulation (MiCA), a crypto company that receives authorization in one member state can generally use that license to offer regulated services across the bloc. A Greek license would have provided a regulatory base for access to a market of about 450 million people.