Christine Lagarde Blocks Binance EU Operating License

European Central Bank President Christine Lagarde intervened to block the cryptocurrency exchange Binance from securing a license to operate within the European Union. Binance had applied for a Europe-wide license through the Hellenic Capital Market Commission in Greece, and Greek officials had initially indicated the application was complete and likely to be approved.

Lagarde reportedly urged Greek Prime Minister Kyriakos Mitsotakis to block the application to prevent the dominance of dollar-based stablecoins and protect the ECB's digital euro project. Simultaneously, the European Securities and Markets Authority privately advised national regulators to deny the license due to Binance's history of financial-crime violations.

Binance withdrew its application in mid-June 2026 and stopped promoting services to the EU's 450 million residents. While the Hellenic Capital Market Commission denied external influence and claimed it acted independently, Binance founder Changpeng Zhao criticized the move, stating it was sad to see the EU cutting users off from the best liquidity in the world.