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European Central Bank (ECB) President Christine Lagarde is alleged to have played a direct role in the rejection of Binance’s MiCA license application to offer services in the European Union.
According to information reported by The Big Whale, Binance’s license application in Greece was initially completed by the country’s capital markets regulator, HCMC, and assessed as compliant with MiCA rules. However, it was later alleged that the process was blocked at the political level.
Journalist Gareth Jenkinson, citing a reliable source, claimed that ECB President Christine Lagarde directly instructed Greece to reject Binance’s MiCA license application. Jenkinson stated that Binance was effectively close to receiving approval from the Greek regulator, but the process changed after the ECB intervened.
It is alleged that Lagarde conveyed a message to the Greek Prime Minister that Binance was unwelcome in Europe, and that this guidance was subsequently passed on to the HCMC via the Ministry of Finance.
Allegedly, the primary motivation behind this intervention may be linked to the stablecoin market and the digital euro project. Binance is cited as one of the most important channels for stablecoin liquidity in Europe, and it is suggested that removing the platform from the European market could create space for a future digital euro.
Following these developments, it is reported that France is Binance’s last option to continue its operations in Europe. Discussions are ongoing between the company and France’s financial regulator, the AMF, but no official application has been submitted yet.
On the French side, it is alleged that the Treasury and financial intelligence agency Tracfin supports Binance operating under a Paris-based supervisory structure. The reasoning behind this approach is that if Binance were to completely withdraw from Europe, the financial flows on the platform could become unregulated.
*This is not investment advice.