ECB President Christine Lagarde reportedly intervened in Binance’s effort to obtain a MiCA license in Greece, The Wall Street Journal reported, citing people familiar with the matter.

The ECB does not have direct authority to grant MiCA licenses. However, according to the Journal, the reported intervention led Greek regulators to delay Binance’s application after determining that the submission was complete.

A senior Greek regulator reportedly told Binance that Lagarde wanted the licensing decision postponed until the European Securities and Markets Authority assumes responsibility for approving crypto exchanges under a proposed EU reform. The changes have not yet been adopted.

MiCA currently places licensing authority with financial regulators in individual EU member states. A crypto company approved in one member state can generally use that authorization to operate across the European Union.

According to the Journal, concerns over dollar-backed stablecoins and the ECB’s digital euro plans were part of the issue. Lagarde was reportedly concerned that Binance’s size could increase the use of dollar-denominated stablecoins across Europe, potentially competing with euro-based alternatives and the proposed digital euro.

Binance has not confirmed the reported intervention.

“We will not comment on speculation,” a company spokesperson said. “In Europe, Binance remains committed to operating on a long-term, compliant basis under the EU’s Markets in Crypto-Assets Regulation (MiCA).”

The exchange said it still plans to pursue MiCA authorization.

“We are actively working toward becoming MiCA-authorised and view this as an important step in providing users with a consistent, regulated, and trusted service across the European market,” the spokesperson said.

Binance Abandons Greek Application

Binance withdrew its Greek MiCA application in mid-June and started winding down operations in the country after the Hellenic Capital Market Commission declined to approve the license request at the final stage.

Gillian Lynch, Binance’s head of Europe, told CoinDesk in early July that the exchange had fulfilled the HCMC’s requirements.

“We were deemed to have a complete application,” Lynch said. “Nothing was missing, nothing material was outstanding.”

The Journal also reported that ESMA had privately advised national regulators to reject Binance’s MiCA applications because of concerns related to the exchange’s historical compliance issues.

Binance founder Changpeng “CZ” Zhao pleaded guilty in the U.S. in 2023 to violating the Bank Secrecy Act. Binance agreed to pay $4.3 billion in penalties. Zhao served four months in a California prison in 2024 and received a pardon from President Donald Trump in October 2025.

ECB Says It Does Not License Crypto Firms

An ECB spokesperson declined to comment on the reported intervention when contacted by CoinDesk.

The central bank said it has no institutional role in authorizing crypto-asset service providers. Under the existing MiCA framework, those decisions remain with national regulators, with Greece’s Hellenic Capital Market Commission responsible for the country’s licensing process.

The reported dispute comes as the EU considers proposed changes that could give ESMA a greater role in supervising and licensing major crypto firms across the bloc.