ECB President Christine Lagarde blocked Binance’s EU MiCA license, says WSJ
The ECB chief cited concerns that Binance could deepen Europe’s reliance on dollar stablecoins and weaken the digital euro plan, the Journal said.
- European Central Bank President Christine Lagarde personally intervened to block Binance's attempt to obtain a European Union-wide crypto license through Greece, according to The Wall Street Journal, derailing an application the exchange believed had satisfied all technical requirements.
- Lagarde expressed concerns that enabling the world's largest crypto exchange could increase the use of dollar-based stablecoins in Europe, risking "digital dollarisation and a loss of monetary sovereignty" while undermining the digital euro project.
- The exchange's application faced scrutiny over Binance's 2023 guilty plea for violating the Bank Secrecy Act and a settlement exceeding $4 billion, even as CEO Richard Teng had reportedly planned a celebratory meeting in Athens.
- Binance withdrew its Greek application in mid-June before a final decision, despite previously claiming its file was complete; a spokesperson stated the company remains committed to operating under the EU's Markets in Crypto-Assets Regulation.
- Although the European Securities and Markets Authority privately advised national regulators to reject Binance's bids, the exchange continues seeking authorization while some customers access services through offshore arrangements, including an Abu Dhabi entity.
39 Articles
39 Articles
The head of the European Central Bank, Christine Lagarde, personally prevented Binance from obtaining a license from the European Union, writes The Wall Street Journal
The head of the European Central Bank, Christine Lagarde, personally prevented Binance from obtaining a license from the European Union, writes The Wall Street Journal. The license was almost approved in Greece, but Lagarde asked Athens not to approve...
Binance's attempt to establish itself in Greece was seen by the company as a strategic gateway to the European market - Lagarde personally intervened to block the cryptocurrency exchange, WSJ reports
Binance brushes off Lagarde MiCA speculation, reaffirms Europe commitment
Binance declined to address reports of ECB intervention in its Greek MiCA bid, saying it remains committed to securing authorization in Europe. Binance declined to address a report that European Central Bank President Christine Lagarde intervened in its failed Greek crypto license bid and said it continues seeking authorization under the European Union’s Markets in […]
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