Odaily Planet Daily News: European Central Bank President Christine Lagarde is reported to have intervened in Binance’s process of applying to the Greek authorities 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 granted, it could be extended to cover EU member states through a “passporting mechanism.”
Greek regulators had previously told the European Securities and Markets Authority that they planned to approve the application, but Binance withdrew the application in mid-June before a formal decision was made by the regulator. Lagarde is said to be concerned about Binance’s past compliance issues, and about its potential to further expand the dominance of U.S. dollar stablecoins in Europe and affect the push for a digital euro.
Greek regulators had previously told the European Securities and Markets Authority that they planned to approve the application, but Binance withdrew the application in mid-June before a formal decision was made by the regulator. Lagarde is said to be concerned about Binance’s past compliance issues, and about its potential to further expand the dominance of U.S. dollar stablecoins in Europe and affect the push for a digital euro.