ECB President Lagarde Intervened to Block Binance's MiCA License in EU: WSJ Report

According to a Wall Street Journal report, European Central Bank President Christine Lagarde personally intervened to prevent Binance, the world's largest cryptocurrency exchange, from obtaining a MiCA (Markets in Crypto-Assets) license in the European Union. The report claims Lagarde's direct involvement influenced regulatory decisions regarding Binance's application to operate legally within the EU under the new MiCA framework. This intervention reportedly stemmed from concerns over Binance's regulatory compliance history and potential risks to the European financial system. The MiCA regulation, which came into full effect in December 2024, requires crypto exchanges to obtain proper licensing to serve EU customers. Binance has faced regulatory scrutiny globally, including in the United States, where it settled charges with authorities in 2023. The ECB has not officially confirmed the report. The development highlights the increasing regulatory pressure on major crypto exchanges in Europe and could have significant implications for Binance's operations in the EU market. Binance has not issued an official response to the WSJ report at the time of publication.