Odaily Planet Daily News: European Central Bank President Christine Lagarde reportedly intervened in the process of Binance’s application in Greece for a license under the “Markets in Crypto-Assets Regulation” and asked Greek Prime Minister Kyriakos Mitsotakis not to approve the application. After the license is approved, it could cover EU member states through the “passporting mechanism.”
Greek regulators previously told the European Securities and Markets Authority that they intended to approve the application. However, in mid-June, Binance withdrew the application before the regulators made a formal decision. Lagarde is said to be concerned about Binance’s past compliance issues, as well as its potential to further expand the dominance of dollar stablecoins in Europe and affect the advancement of the digital euro.
Greek regulators previously told the European Securities and Markets Authority that they intended to approve the application. However, in mid-June, Binance withdrew the application before the regulators made a formal decision. Lagarde is said to be concerned about Binance’s past compliance issues, as well as its potential to further expand the dominance of dollar stablecoins in Europe and affect the advancement of the digital euro.