Key Takeaways
According to Bitcoin Magazine, citing a Wall Street Journal report, ECB President Christine Lagarde blocked Binance from operating in the European Union.
According to Bitcoin Magazine, citing a report by the Wall Street Journal, European Central Bank President Christine Lagarde stopped the crypto exchange Binance from gaining a foothold in the European Union. The report stated that Binance was close to operating in the trading bloc before the central bank chief intervened.
EU law mandates that local Crypto-Asset Service Providers hold a MiCA license, which Binance lacks. Binance withdrew its MiCA application in Greece in June, though the company stated it continues pursuing authorization in another EU member state. Officials interviewed by the newspaper indicated that Lagarde wanted to keep Binance out of the EU due to concerns it might embed the dominance of dollar-based stablecoins over euro counterparts.
Lagarde has previously criticized Bitcoin as a speculative asset used for money laundering and expressed support for central bank digital currencies, such as the digital euro. Binance previously pleaded guilty to financial-crime and anti-money-laundering violations in the United States in 2023.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
