Binance EU License Bid Reportedly Blocked After Lagarde Intervention

European Central Bank President Christine Lagarde reportedly intervened to prevent Binance from securing an EU-wide cryptocurrency Greece, according to a report cited by Coin Bureau from The Wall Street Journal.

Binance, described in the report as the world’s largest spot centralized cryptocurrency exchange, had pursued authorization in Greece that would have provided a route to operating across the European Union under the bloc’s Markets in Crypto-Assets (MiCA) framework. Greek officials had reportedly told Binance that its application was complete before the process was derailed.

Binance Had Prepared Major Milestone Announcement

According to Coin Bureau, citing the Wall Street Journal, Binance had already prepared a “Major Milestone” announcement tied to the expected regulatory approval.

The company’s chief executive, Richard Teng, was reportedly planning to travel to Athens for a photograph with Greece’s Prime Minister as part of the announcement. That plan was ultimately abandoned after the licensing process broke down.

Binance later withdrew its MiCA application in Greece and said it would pursue authorization in another EU member state. The company said in June that it remained committed to securing a MiCA license and operating within a harmonized European regulatory framework.

Lagarde’s Reported Intervention

The Wall Street Journal reported that Lagarde personally advised Greek authorities against approving Binance’s application. The report said concerns included Binance’s regulatory history, including its 2023 guilty plea in the United States over anti-money-laundering violations and the $4.3 billion penalty imposed as part of the settlement.

The reported intervention is notable because licensing authority under MiCA rests with national regulators rather than the European Central Bank. Binance’s Greek application was handled by the Hellenic Capital Market Commission, while European-level regulatory involvement included review by the European Securities and Markets Authority.

Binance said in June that it understood the Hellenic Capital Market Commission had completed its review and considered its application compliant with MiCA requirements. The company also said it understood the application had been reviewed at the ESMA level.

Binance Withdraws Greek Application

The licensing effort ultimately ended with Binance withdrawing its Greek application on June 24, 2026. The exchange said the decision followed consideration of the status and timeline of the Greek process and that it would seek authorization in another EU member state.

At the time, Binance said it remained committed to Europe and intended to continue pursuing a regulatory path under MiCA. Richard Teng later said the company remained in close talks with European regulators about authorization.

The reported episode adds another layer to Binance’s effort to establish a formal regulatory base in the European Union. The company had selected Greece as its route into the bloc’s unified licensing regime, but the application was withdrawn before receiving final approval.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.