Binance's Greek MiCA Application Withdrawn Amid Alleged Political Pressure
Regulation & Gov ·
CZ says the exchange's license bid in Greece was compliant and near approval before being pulled, though he cannot confirm who intervened.
Binance founder CZ said the exchange's application for a MiCA license in Greece had been fully compliant and was close to approval by at least one EU regulator before it was withdrawn, attributing the reversal to what he called "political forces." He said he had seen speculation online that European Central Bank President Christine Lagarde was involved in the decision but stressed he had not seen any official evidence supporting that claim.
The episode adds to a pattern of regulatory friction the exchange has faced across jurisdictions. In Australia, regulators fined Binance $6.9 million after finding the platform misclassified 85% of its derivatives users, according to cryptopotato.com. Separately, the U.S. Department of Justice has reportedly been examining whether Iran used Binance to circumvent sanctions, per decrypt.co. Neither matter is directly tied to the Greek application, but both illustrate the broader regulatory scrutiny surrounding the exchange as it seeks formal licensing inside the EU.
The MiCA framework is meant to give crypto firms a single passportable license across the European Union, so a withdrawal at a late stage would be notable regardless of the reason. CZ's account leaves the central question unanswered: whether any EU official or institution actually intervened, or whether the withdrawal stemmed from other factors not yet disclosed.
The comments came alongside unrelated remarks from CZ on Strategy's STRC preferred stock, which he said he still does not fully understand, describing the product as "over-engineered" while adding that he does not question Michael Saylor's credibility.
The regulatory episode surfaces as Binance is pushing to broaden its business beyond spot and derivatives trading. The exchange is expanding into cross-border payments, savings products, and real-world asset trading, including plans for tokenized equities and commodities, according to fortune.com. The company's core platform remains listed at binance.com.
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