Binance Declines Comment on Report ECB Chief Lagarde Intervened in Failed Greek MiCA License Bid
Key Takeaways
- •A Wall Street Journal report alleges that ECB President Christine Lagarde asked Greek Prime Minister Kyriakos Mitsotakis not to approve Binance's crypto license application in Greece.
- •Binance declined to address the allegations, stating it remains committed to operating on a long-term, compliant basis under the EU's Markets in Crypto-Assets Regulation.
- •Greek officials had informed ESMA in early June that the Hellenic Capital Market Commission intended to approve Binance's license application.
- •Binance applied for a Greek MiCA license in January but withdrew it days before the July 1 MiCA deadline, saying it would seek authorization in another EU jurisdiction.
- •The ECB declined to comment on the reports, and the HCMC had not responded to a request for comment by publication.
Binance declined to address a report that European Central Bank (ECB) President Christine Lagarde intervened in its failed Greek crypto license bid, saying the exchange remains committed to seeking authorization under the European Union's Markets in Crypto-Assets Regulation (MiCA).
A report published Friday by The Wall Street Journal states that a vice chair of Greece's Hellenic Capital Market Commission (HCMC) told Binance that Lagarde had asked Greek Prime Minister Kyriakos Mitsotakis not to approve its application. Greek officials informed the European Securities and Markets Authority (ESMA) in early June that the regulator intended to approve the license, according to the report.
"We will not comment on speculation," a Binance spokesperson told Cointelegraph. "In Europe, Binance remains committed to operating on a long-term, compliant basis under the EU's Markets in Crypto-Assets Regulation."
The latest report adds detail to the uncertainty surrounding Binance's Greek bid after the exchange applied for a MiCA license in Greece in January. In mid-June, online reports suggested that the HCMC was set to reject the application, The Big Whale subsequently reported that Lagarde had intervened over the application.
Binance later withdrew its Greek application and said it would seek authorization in another EU jurisdiction just days ahead of the July 1 MiCA deadline.
The ECB declined to comment on the reports. Cointelegraph also contacted the HCMC for comment but had not received a response by publication.
MiCA Background
MiCA is the European Union's comprehensive regulatory framework for crypto assets, adopted in 2023. It requires crypto-asset service providers to obtain authorization from the national regulator of one EU member state, which then permits them to passport their services across the bloc's 27 member countries. The regulation's licensing provisions took full effect at the end of 2024.
Binance, one of the world's largest cryptocurrency exchanges by trading volume, continues to seek MiCA authorization in another EU jurisdiction. Lagarde has served as president of the ECB, the eurozone's monetary authority, since November 2019.
