European Union · Wall Street · Bitcoin · Bitcoin Magazine
European Central Bank President Blocked Binance’s EU Entry: Report
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
A Wall Street Journal report says that the central bank's boss, Christine Lagarde, who has previously bashed Bitcoin and is pro-CBDCs, stopped Binance getting a foothold in the European Union.
Key facts
- A controversial company, Binance and its CEO, Chanpeng Zhao, in 2023 pleaded guilty to anti-money-laundering violations and paid a record $4.3 billion fine
- European Central Bank President Christine Lagarde stopped Binance from operating in the European Union, according to a Wall Street Journal report
- EU law requires that local Crypto-Asset Service Providers (CASP) have a MiCA license
- A Wall Street Journal report says that the central bank's boss, Christine Lagarde, who has previously bashed Bitcoin and is pro-CBDCs, stopped Binance getting a foothold in the European Union
Summary
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. “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.