ECB President Reportedly Opposed Binance’s MiCA License Application in Greece

Highlights:

• Christine Lagarde reportedly urged Greece not to approve Binance’s MiCA license, according to The Wall Street Journal.
• Binance had prepared for approval, but later withdrew its Greek application before regulators issued a formal rejection.
• The dispute involved Binance’s compliance record, dollar-backed stablecoins, and concerns over Europe’s developing digital euro plans.

European Central Bank (ECB) President Christine Lagarde reportedly played a direct role in stopping Binance from securing a Europe-wide crypto license through Greece. The Wall Street Journal reported on September 17 that Binance had been close to moving forward with its Markets in Crypto-Assets (MiCA) authorization before the process stalled.

According to the WSJ, Greek officials told Binance that its application was complete, prompting the exchange to prepare for a major announcement in late May. Binance CEO Richard Teng also planned to travel to Athens, while the company prepared to open an office in the city.

WSJ: ECB President Lagarde Personally Intervened to Block Binance from Obtaining an EU-Wide License via Greece

According to The Wall Street Journal, European Central Bank President Christine Lagarde personally intervened to prevent Binance from gaining a foothold in the European… pic.twitter.com/nruuNsERJu

— Wu Blockchain (@WuBlockchain) September 18, 2026

Lagarde Reportedly Raised Concerns With Greece

The WSJ said Greek authorities told a European Securities and Markets Authority (ESMA) digital finance committee in early June that they planned to approve Binance’s application. However, an official at Greece’s Hellenic Capital Market Commission (HCMC) later told Binance that Lagarde had asked Greek Prime Minister Kyriakos Mitsotakis not to approve the license, according to people familiar with the discussions.

The ECB does not have formal authority to approve or reject MiCA licenses. Under the EU framework, crypto companies apply to the competent authority in a member state. Once authorized, a crypto-asset service provider can offer approved services across the European Union through MiCA’s cross-border rules.

The report said Lagarde’s concerns included Binance’s previous compliance record. In 2023, Binance pleaded guilty in the United States to violations involving the Bank Secrecy Act, unlicensed money transmitting and U.S. sanctions laws. The company agreed to pay $4.3 billion in penalties.

Stablecoins and Digital Euro Became Part of the Binance Debate

The WSJ also linked Lagarde’s reported opposition to concerns over dollar-backed stablecoins. Binance is a major global crypto trading platform, including for stablecoin activity. According to the report, Lagarde was concerned that allowing Binance to expand under a MiCA license could strengthen the use of dollar-denominated stablecoins in Europe while the ECB continues work on a digital euro. However, the reported reasoning comes from people familiar with the discussions rather than a formal ECB licensing decision.

Binance Withdraws Greek MiCA Application

Binance withdrew its Greek application in mid-June before the HCMC issued a formal rejection. The Greek regulator said it had reviewed Binance’s application independently under relevant European Union and Greek rules. Binance said on June 16 that, based on its understanding, the HCMC had completed its review and considered the application compliant with MiCA requirements. The exchange also said it understood that the application had been reviewed at the ESMA level.

At the time, Binance said, “We remain committed to securing our MiCA license,” adding that Europe remained central to its long-term plans. The company said it wanted to operate under a clear and consistent European regulatory framework. However, the Greek route did not result in the EU-wide authorization Binance had sought before the end of the MiCA transition period. By July, after failing to secure the license, Binance had stopped promoting its services to EU users.