Lagarde Said to Have Helped Block Binance's MiCA License

The European Central Bank's president, Christine Lagarde, played a role in preventing Binance from obtaining a license under the European Union's Markets in Crypto-Assets regulation, according to the Wall Street Journal. The report says her intervention helped block the crypto exchange's application in Greece.

MiCA is the EU's comprehensive framework for regulating digital assets, designed to bring oversight to a sector that has largely operated outside traditional financial rules. The regulation requires crypto firms to secure approval from national authorities in member states before serving EU customers. Binance has faced heightened scrutiny from regulators globally, making its MiCA ambitions a key test of the framework.

Details of Lagarde's involvement remain limited, but the development underscores the political sensitivity around crypto licensing in Europe. The ECB has consistently warned about risks posed by unregulated digital assets, and Lagarde has previously called for stricter global standards. Greece, where Binance sought approval, has been among the EU states implementing MiCA.

The episode highlights how central bank influence can shape licensing outcomes, even as national regulators hold formal authority. For Binance, the setback adds to its struggles in Europe, where it has withdrawn or been denied permissions in several markets. The crypto exchange has faced mounting regulatory pressure across multiple jurisdictions in recent years.