Binance’s MiCA fight raises questions over ECB influence
Binance’s MiCA license bid in Greece appears to be under scrutiny, and reports suggest the ECB may have informally weighed in even though it has no formal licensing power under MiCA. National regulators such as Greece’s HCMC are responsible for CASP approvals, but lawyers say MiCA does not bar the ECB or other EU bodies from sharing views with those regulators during review. Reports claimed ECB President Christine Lagarde signaled to Greece’s prime minister that Binance was unwelcome in Europe, shortly after Reuters said Greek regulators were set to reject Binance’s application. Binance said it believed its Greek application met MiCA requirements and had also been reviewed by ESMA, though ESMA cannot authorize licenses itself. The possible ECB involvement is politically sensitive because the central bank has strongly criticized private stablecoins, while Binance is the largest stablecoin venue and a major holder of USDT and USDC liquidity.
