Christine Lagarde reportedly blocked Binance's EU expansion

European Central Bank President Christine Lagarde reportedly intervened to prevent Binance from obtaining a regulatory license in Greece, which would have allowed the exchange to operate across the European Union under the Markets in Crypto-Assets (MiCA) framework.

According to reports, Binance’s application to the Hellenic Capital Market Commission (HCMC) was nearing approval after passing technical reviews and anti-money laundering assessments. However, the process was reportedly halted following political intervention. Lagarde is said to have expressed concerns that Binance’s dominance could promote dollar-based stablecoins over euro-based alternatives, potentially undermining European financial autonomy.

Binance subsequently withdrew its MiCA application in Greece. The incident highlights the tension between major cryptocurrency exchanges and central bank leadership, as well as the informal influence EU institutions may exert on national licensing processes.