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A report published on September 18 said European Central Bank President Christine Lagarde intervened in Binance’s attempt to secure a Markets in Crypto-Assets Regulation, or MiCA, licence in Greece. The allegation surfaced nearly three months after Binance had already withdrawn its application from Greece’s Hellenic Capital Market Commission (HCMC).
CoinDesk, summarizing a Wall Street Journal report, said Lagarde asked Greek officials to delay or block approval of the exchange’s application, reportedly to allow time for consideration of a proposed transfer of licensing powers to the European Securities and Markets Authority (ESMA).
The allegation is notable because the ECB does not formally authorize crypto-asset service providers under MiCA. That responsibility sits with national authorities, including the HCMC in Greece.
WSJ report alleges Lagarde pressed Greece over Binance’s MiCA bid
According to the account relayed by CoinDesk, Lagarde’s reported intervention concerned Binance’s effort to obtain an EU licence through Greece. The report characterized the outreach as an attempt to stop or postpone the decision rather than a formal ECB licensing action.
The alleged request was linked to a prospective shift of supervisory authority to ESMA. The supplied reporting does not establish that such a transfer had taken effect, nor does it provide a public response from Lagarde herself. CoinDesk reported that an ECB spokesperson declined to comment on the allegation.
For Binance, a Greek authorization would have mattered beyond one national market. MiCA provides a route by which an authorized crypto-asset service provider can operate across the European Union under its passporting framework, subject to the regulation’s process.
That makes the reported effort to delay a Greek decision consequential even though Binance’s application was no longer pending when the report emerged. The company’s June announcement said it would instead seek authorization in another EU member state.
MiCA leaves Binance authorization with Greece’s HCMC, not the ECB
MiCA’s authorization process is administered by national competent authorities, not by the ECB. In Greece, the HCMC is the relevant authority; an approved provider may then use the EU passporting regime under ESMA’s MiCA rulebook.
That is the institutional boundary at issue here. As reported by CoinDesk, an ECB spokesperson said the ECB has no role in authorizing crypto-asset service providers and that the responsibility remains with national authorities such as the HCMC.
The report linked the alleged delay or prevention of Binance’s Greek approval to possible changes in licensing powers, including a proposed transfer to ESMA. It did not allege that ESMA had authorized or rejected Binance.
The ECB spokesperson did not address the substance of the reported contacts with Greek officials.
Binance withdrew its Greek application after rejection reports
The chronology began on June 16, when Reuters reported, citing two people familiar with the process, that Binance’s Greek application was expected to be rejected. Binance disputed the account and said it believed it had met MiCA’s requirements. The report described an expected outcome, not a published decision by Greece’s Hellenic Capital Market Commission (HCMC).
On June 24, Binance announced that it had withdrawn its MiCA application from the HCMC. In its announcement, the exchange said it would pursue authorization in another EU member state rather than continue with the Greek application.
Following the withdrawal, Binance no longer had a live MiCA application before Greece’s regulator on the facts provided. The application had therefore already ended through withdrawal before the alleged intervention was publicly reported in September.
Binance did not specify the destination member state or a timetable for a new application in the supplied material.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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