Binance Declines Comment on Lagarde Intervention Report, Reaffirms EU Commitment
In brief
- Binance declined to address WSJ report of alleged ECB President Lagarde intervention in Greek MiCA application
- Exchange reaffirms commitment to long-term, compliant operations under EU's Markets in Crypto-Assets Regulation
- Binance withdrew Greek application days before July 1 MiCA deadline, seeking authorization elsewhere in EU
The Lagarde Allegation
According to the Wall Street Journal, a vice chair of Greece's Hellenic Capital Market Commission told Binance that Lagarde had asked Greek Prime Minister Kyriakos Mitsotakis not to approve its application. Binance declined to address the report when contacted. The exchange did not respond to requests for additional comment on the specific allegations.
Greek and ECB officials have not publicly disclosed their rationale for the application's status, leaving open the possibility that regulatory concerns—rather than political intervention—may have influenced the outcome.
Timeline of Events
Binance applied for a MiCA license in Greece in January. Greek officials informed the European Securities and Markets Authority in early June that the regulator intended to approve the license. However, in mid-June, online reports suggested the HCMC was set to reject the application.
Binance withdrew its Greek application and said it would seek authorization in another EU jurisdiction just days ahead of the July 1 MiCA deadline. The exchange's pivot reflects the broader challenge facing crypto platforms navigating Europe's new regulatory framework.
What's Next
In Europe, Binance remains committed to operating on a long-term, compliant basis under the EU's Markets in Crypto-Assets Regulation. The exchange's shift to another EU jurisdiction suggests it views MiCA authorization as achievable elsewhere, even as the Greek path closed. How quickly it secures approval in its new target jurisdiction remains unclear.
