Odaily reported that European Central Bank President Christine Lagarde intervened in Binance’s application for a Markets in Crypto-Assets Regulation, or MiCA, license in Greece and asked Greek Prime Minister Kyriakos Mitsotakis not to approve it. The report said the license, if granted, could have allowed Binance to use the EU passporting mechanism to operate across member states. Greek regulators had previously told the European Securities and Markets Authority that they intended to approve the application, but Binance withdrew it in mid-June before a formal decision was made. Lagarde was said to be concerned about Binance’s past compliance issues, as well as the possibility that the exchange could further strengthen the dominance of U.S. dollar stablecoins in Europe and affect the rollout of the digital euro.
Odaily reported that European Central Bank President Christine Lagarde intervened in Binance’s application for a Markets in Crypto-Assets Regulation, or MiCA, license in Greece and asked Greek Prime Minister Kyriakos Mitsotakis not to approve the bid.
The report said that, if approved, the license could have enabled Binance to use the EU passporting mechanism to cover member states across the bloc. Greek regulators had previously informed the European Securities and Markets Authority that they planned to approve the application, but Binance withdrew it in mid-June before the regulator issued a formal decision.
Lagarde was reportedly concerned about Binance’s past compliance issues and the possibility that the exchange could further expand the dominance of U.S. dollar stablecoins in Europe, affecting progress on the digital euro.
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