ECB's Lagarde helped block Binance's Greek MiCA bid. France's AMF is the only remaining path before the June 30 deadline. Binance says Greece deemed its application compliant.
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European Central Bank President Christine Lagarde played a key role in blocking Binance's bid for a Markets in Crypto-Assets license in Greece, according to a report by The Big Whale. The world's largest crypto exchange now relies on France as its last realistic route to secure authorization before the European Union's June 30 deadline.
The Greek application had cleared most regulatory requirements. Concerns over stablecoins and Binance's influence in the European crypto sector, raised at the political level, stopped the process, sources told the publication.
Without a Greek green light, Binance loses access to MiCA's passporting system. That single-license structure allows a firm to serve all 27 member states after one national authorization. France's financial regulator, the AMF, is the only jurisdiction considered capable of issuing that authorization inside the remaining weeks, The Big Whale reported. Discussions are continuing. No formal application has been submitted to the AMF yet.
The June 30 transition deadline is firm. Any crypto firm without a member-state license by that date cannot use MiCA's transitional period to keep serving EU customers. For Binance, the clock is especially tight because the AMF process would need to move quickly.
Binance responded to the Greek reports by reiterating its commitment to Europe. The company said it had moved carefully during the MiCA transition and prioritized minimizing disruption for users. According to Binance, its understanding is that Greece's regulator completed its review and considered the application compliant with MiCA requirements. The filing was also reviewed at the European Securities and Markets Authority level.
The exchange warned that delays to MiCA authorizations could affect the European crypto market broadly. Prolonged uncertainty could reduce liquidity and encourage some activity to shift outside the EU, Binance said.
The Greek setback adds to a series of regulatory hurdles Binance has faced. Earlier this year, the Bangko Sentral ng Pilipinas stated that neither Binance nor its local partner held the required virtual asset service provider license for certain crypto activities in the Philippines.
Binance has publicly supported MiCA, calling it a positive step for legal certainty and consumer protections. The exchange said it plans to provide additional updates before June 30.
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