Lagarde Blocks Binance from Securing EU License via Greece

European Central Bank President Christine Lagarde personally intervened to prevent Binance from obtaining an EU-wide crypto license through Greece, according to The Wall Street Journal. Binance had filed its paperwork with Greece's Hellenic Capital Market Commission in late 2025 and was on track to receive approval under the EU's Markets in Crypto-Assets (MiCA) regulatory structure.

The company had prepared a 'Major Milestone' announcement and arranged a photo opportunity with Greek Prime Minister Kyriakos Mitsotakis before negotiations collapsed. However, Lagarde directly reached out to Mitsotakis, urging him to reject Binance's licensing request due to its 2023 US criminal conviction for Bank Secrecy Act violations and concerns about the proliferation of US dollar-backed stablecoins in European markets.

Lagarde allegedly feared that authorizing Binance would accelerate adoption of US dollar stablecoins throughout European markets, which could threaten the ECB's digital euro initiative. As a result, Greece withdrew its support for Binance's license application, and the company formally withdrew its filing on June 24.