Lagarde’s intervention halts Binance’s EU license bid

6.6 Regulation

Sep 18, 2026

Reports say ECB President Lagarde urged Greece to reject Binance’s MiCA license bid over compliance and stablecoin concerns, prompting Binance to withdraw its application.

Multiple reports suggest that European Central Bank President Christine Lagarde personally intervened in Binance's application for a Markets in Crypto-Assets Regulation (MiCA) license in Greece. Lagarde reportedly contacted Greek Prime Minister Kyriakos Mitsotakis, urging rejection of Binance's bid due to concerns about the exchange's compliance history and the potential impact of dollar-backed stablecoins on the euro and the ECB's digital euro initiative. Greek regulators had initially indicated support for the application, which would have enabled Binance to operate across the EU through the passporting mechanism. However, Binance withdrew its application in June before any formal decision was made. The Hellenic Capital Market Commission stated it independently reviewed the application, while both the ECB and Greek authorities declined to confirm the reported intervention. Under MiCA, licensing authority remains with national regulators, not the ECB. Following the withdrawal, Binance's European services were restricted, and the company is now seeking alternative licensing options within the EU.