Lagarde Blocks Binance's EU Licence Bid Over Regulatory Concerns
ECB President Christine Lagarde reportedly intervened to block Binance's bid for a Europe-wide cryptocurrency licence through Greece. According to The Wall Street Journal, Lagarde's concerns included Binance's regulatory and compliance record, as well as the potential impact of dollar-based stablecoins on the European Union's plans for a digital euro.
Binance had submitted its Greek application in late 2025 and was reportedly expecting approval, with CEO Richard Teng planning to travel to Athens for a photo opportunity. However, a senior official at Greece's Hellenic Capital Market Commission informed Binance that Lagarde had asked Prime Minister Kyriakos Mitsotakis not to approve the application.
The European Securities and Markets Authority had privately advised national regulators to block Binance applications due to concerns over its compliance record. The report also noted that Binance pleaded guilty in the United States in 2023 to anti-money laundering and sanctions violations and agreed to pay $4.3 billion in penalties.