European Central Bank President Blocked Binance’s EU Entry: Report

Bitcoin Magazine European Central Bank President Blocked Binance’s EU Entry: Report European Central Bank President Christine Lagarde stopped Binance from operating in the European Union, according to a Wall Street Journal report.  The newspaper on Thursday reported that the top crypto exchange was on the cusp of operating in the trading bloc but then was told it couldn’t after the central bank chief waded in.  EU law requires that local Crypto-Asset Service Providers (CASP) have a MiCA license.

Binance does not.

Binance in June withdrew its MiCA application in Greece.  “Lagarde wanted to keep the controversial crypto exchange, which pleaded guilty to financial-crime violations in the U.S., out of the European Union,” the newspaper report said, citing interviews with officials.  Lagarde has long been anti-Bitcoin and pro-central bank digital currencies.

Back in 2021, Lagarde said that the leading cryptocurrency was “a highly speculative asset” used for money laundering. She also criticized cryptocurrencies as a whole and said central banks would never hold bitcoin.  On CBDCs, though, Lagarde takes a different approach.