European Central Bank President Christine Lagarde intervened in the process surrounding Binance’s application for a European Union license under the Markets in Crypto-Assets Regulation, The Wall Street Journal reported, according to CoinDesk. The ECB does not have formal licensing authority under MiCA. However, the reported intervention prompted Greece to pause the application, even though regulators had previously considered the submission complete. The development concerns Binance and could be relevant to market participants tracking the exchange, its BNB token and other crypto assets associated with the broader industry. The report highlights the role that senior officials may play in regulatory proceedings despite the ECB’s lack of formal authority over MiCA licensing decisions.
