ECB chief blocks Binance’s EU license bid in Greece

Christine Lagarde, president of the European Central Bank, intervened to block Binance from obtaining a Greek crypto service provider license for entry into the European Union. Binance applied for a license through Greek financial authorities, which were initially set to approve it in early June. However, a Greek Capital Market Commission official informed Binance that Lagarde requested Greek Prime Minister Kyriakos Mitsotakis not to approve the license. Lagarde expressed concerns over Binance’s past compliance issues and the potential strengthening of dollar-denominated stablecoins in Europe, which could impact the digital euro initiative. The ECB lacks the authority to approve crypto exchange licenses under MiCA. Binance withdrew its application in mid-June before a formal rejection was issued and ceased promoting services to EU users by July after failing to secure the license. The HCMC stated it reviewed Binance’s application independently under relevant EU and Greek regulations.

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