European Central Bank President Christine Lagarde reportedly intervened to block Binance from obtaining a crypto-asset service provider license in Greece. According to reports, Lagarde contacted Greek Prime Minister Kyriakos Mitsotakis to express opposition to the exchange's application, which was filed under the EU's Markets in Crypto-Assets framework.
The regulatory bid was initially on track for approval, with Greek authorities informing the European Securities and Markets Authority of their intent to grant the license in early June. However, officials at the Hellenic Capital Market Commission later notified Binance that the ECB president opposed the move, citing the company's previous legal issues in the United States.
Lagarde's concerns reportedly stemmed from Binance's past guilty plea regarding money-laundering and sanctions violations. Additionally, the ECB president feared that the exchange's presence could promote the use of dollar-denominated stablecoins, potentially undermining the development of the ECB's own digital euro project.
Although the ECB lacks formal authority over individual exchange licensing under MiCA, Binance withdrew its application in mid-June before a final decision was reached. Following the missed July licensing deadline, the company ceased marketing activities directed at European Union users.
