European Central Bank President Christine Lagarde played a key role in derailing Binance’s planned authorization under the Markets in Crypto-Assets regulation in Greece, leaving France as the exchange’s last realistic path to securing access to the European market, The Big Whale reported Wednesday, citing sources familiar with the matter.
According to the report, Binance’s Greek application had cleared most regulatory hurdles and was expected to move forward. However, the process allegedly stalled after concerns were raised at the political level over stablecoins and Binance’s influence on the European crypto market.
The collapse of the Greek route has forced Binance to focus on France, where discussions with the AMF are reportedly ongoing. No application has been filed yet, but France is now viewed as the only realistic jurisdiction capable of granting a MiCA authorization within the required timeframe.
The latest development comes after a report surfaced yesterday that the world’s top exchange could lose access to the EU after its MiCA bid in Greece was expected to be dismissed. Under the EU’s new crypto framework, firms must secure authorization by June 30 to continue operating across the bloc, and because MiCA relies on a single-license system, the loss of a Greek authorization would effectively block Binance from serving EU customers unless it secures approval elsewhere.
Binance has consistently described MiCA as a positive development for the industry, arguing that the framework improves legal certainty, strengthens consumer safeguards, and creates a more structured environment for innovation. The company said it looked forward to operating under the rules and contributing to Europe’s growing digital asset sector.
Responding to reports of a potential rejection, Binance said it remains engaged with regulators and committed to maintaining its presence in Europe. The company said it believes its application complies with MiCA requirements and will keep users informed about available options before the June 30 deadline.
