Lagarde intervened to block Binance's MiCA license application in Greece

Odaily: European Central Bank President Christine Lagarde intervened in Binance's application for a Markets in Crypto-Assets Regulation (MiCA) license in Greece, asking Greek Prime Minister Kyriakos Mitsotakis not to approve the application. Once approved, the license could cover EU member states through the "passporting mechanism."

Greek regulators had previously informed the European Securities and Markets Authority of their intention to approve the application, but Binance withdrew it in mid-June before regulators made a formal decision. Lagarde was reportedly concerned about Binance's past compliance issues and the possibility that it could further expand the dominance of U.S. dollar stablecoins in Europe and affect the progress of the digital euro.