Lagarde Blocks Binance's EU Expansion Over Financial Crime Concerns
ECB President Christine Lagarde has personally intervened to block Binance's acquisition of an EU business license and market entry, according to a report by the Wall Street Journal. The move comes as Binance had applied for a license through Greece's HCMC under the EU's MiCA regulation.
The review had passed the technical phase, with anti-money laundering officials indicating their intent to approve the license in early June. However, during a meeting with Greek Prime Minister Kyriakos Mitsotakis, Lagarde expressed strong opposition to granting the license.
Lagarde's concerns are reportedly rooted in Binance's past involvement in financial crimes and its massive trading volume. She has previously labeled Bitcoin as 'a highly speculative asset used for money laundering' and fears that Binance's entry into the EU could undermine the development of the digital euro.