Binance withdrew its Greek application for authorization under the European Union's Markets in Crypto-Assets Regulation after the Hellenic Capital Market Commission decided at the last minute not to approve it. The Wall Street Journal reported that European Central Bank President Christine Lagarde intervened over concerns that a bloc-wide Binance license could strengthen dollar-based stablecoins and complicate Europe's digital euro ambitions. A senior Greek regulator reportedly told Binance that Lagarde wanted the decision postponed until the European Securities and Markets Authority assumes crypto-exchange licensing authority under a proposed EU reform that has not been adopted. The ECB said it has no institutional role in authorizing crypto-asset service providers, a responsibility that remains with national regulators such as the HCMC. Binance said its application was complete, remains committed to MiCA compliance and still intends to obtain authorization in Europe. The reported resistance also reflected Binance's compliance history, including founder Changpeng "CZ" Zhao's 2023 U.S. guilty plea, the company's $4.3 billion in fines and Zhao's subsequent prison term.