🚨 ECB President Blocked Binance’s EU Entry
European Central Bank President Christine Lagarde personally intervened to stop Binance from gaining a foothold in the European Union, according to a Wall Street Journal report. The central bank chief reportedly waded in just as the exchange was on the cusp of operating in the trading bloc.
Officials cited in the report claim Lagarde wanted to keep the exchange out due to its history of financial-crime violations in the US. She was also concerned that Binance would promote the dominance of dollar-based stablecoins in Europe instead of the proposed Digital Euro.
Binance recently withdrew its MiCA license application in Greece. This follows the company and its former CEO, Changpeng Zhao, pleading guilty to anti-money-laundering violations and paying a $4.3 billion fine last year.
#Binance #ECB #MiCA #CryptoRegulation
European Central Bank President Christine Lagarde personally intervened to stop Binance from gaining a foothold in the European Union, according to a Wall Street Journal report. The central bank chief reportedly waded in just as the exchange was on the cusp of operating in the trading bloc.
Officials cited in the report claim Lagarde wanted to keep the exchange out due to its history of financial-crime violations in the US. She was also concerned that Binance would promote the dominance of dollar-based stablecoins in Europe instead of the proposed Digital Euro.
Binance recently withdrew its MiCA license application in Greece. This follows the company and its former CEO, Changpeng Zhao, pleading guilty to anti-money-laundering violations and paying a $4.3 billion fine last year.
#Binance #ECB #MiCA #CryptoRegulation
🇪🇺 ECB President Lagarde confirms Digital Euro is imminent
European Central Bank President Christine Lagarde stated at the IMF Annual Meetings that the ECB is preparing a digital euro to complement physical cash for daily retail payments.
Lagarde emphasized that the digital euro will stimulate innovation and competition while ensuring Europe’s strategic autonomy in the payments sector. It is designed to coexist with private payment solutions as a public alternative.
This move follows the recent launch of Pontes, a system that enables financial institutions to settle wholesale tokenized asset transactions using central bank money. This provides a direct alternative to private settlement assets like stablecoins.
#DigitalEuro #ECB #CBDC #CryptoNews
European Central Bank President Christine Lagarde stated at the IMF Annual Meetings that the ECB is preparing a digital euro to complement physical cash for daily retail payments.
Lagarde emphasized that the digital euro will stimulate innovation and competition while ensuring Europe’s strategic autonomy in the payments sector. It is designed to coexist with private payment solutions as a public alternative.
This move follows the recent launch of Pontes, a system that enables financial institutions to settle wholesale tokenized asset transactions using central bank money. This provides a direct alternative to private settlement assets like stablecoins.
#DigitalEuro #ECB #CBDC #CryptoNews