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Christine Lagarde, president of the European Central Bank, directly intervened to block Binance from obtaining a Greek crypto service provider license for entry into the European Union, The Wall Street Journal reported, citing people familiar with the matter.
Binance had applied through Greek financial authorities for a license that would have been recognized across the EU, and Greek authorities told the European Securities and Markets Authority’s digital finance committee in early June they planned to approve it, the report said. A Greek Capital Market Commission official then told Binance that Lagarde had asked Greek Prime Minister Kyriakos Mitsotakis not to approve the license, according to the WSJ.
The WSJ said Lagarde was concerned not only about Binance’s past compliance issues but also that the large exchange could strengthen the dominance of dollar-denominated stablecoins in Europe and affect the push for a digital euro. The ECB, however, does not hold the authority to approve crypto exchange licenses under MiCA.
Binance withdrew the application in mid-June before the HCMC issued a formal rejection, and by July, after failing to secure the license, stopped promoting services to EU users, the report said.
Separately, the HCMC said it reviewed Binance’s application independently under relevant EU and Greek regulations.