CZ: Binance's MiCA license application in Greece was fully compliant with regulatory requirements and close to approval—until political forces intervened.

CZ stated that Binance’s application for a MiCA license in Greece was fully compliant with regulatory requirements and was close to being approved—until political forces intervened. According to CZ, two EU countries had been competing fiercely for the right to approve Binance’s application; however, the application was ultimately withdrawn last week.

Speculation points to a possible role played by ECB President Christine Lagarde, though CZ neither confirmed nor denied this theory, citing a lack of documentary evidence. Binance plans to submit an application in another EU country—the deadline is July 1, after which unlicensed companies will be required to cease operations in the EU, a requirement that takes effect as early as Tuesday.