Crypto roundup: Binance MiCA snag, Mashinsky ban, Wang exit

Binance’s application for a Markets in Crypto-Assets Regulation (MiCA) license in Greece stalled after reports that the European Central Bank expressed reservations. Unnamed sources told EU officials that ECB President Christine Lagarde indicated Binance was not welcome in Europe, and Greek market authorities were reported to be poised to reject the application. The developments came less than two weeks before MiCA’s transitional period ends on July 1, the deadline for firms to secure authorization to operate across the bloc.

MiCA assigns approval of crypto-asset service provider licenses to national competent authorities, and the regulation does not explicitly bar other EU institutions from communicating with those regulators during reviews, legal experts note. David Lesperance, founder of Lesperance & Associates, said: “Nothing in the MiCA framework would prevent a third party like the ECB from offering its opinion to that national authority on Binance’s application.” Binance has not confirmed a decision by Greek regulators.

In the United States, the Commodity Futures Trading Commission finalized its long-running case against Celsius Network founder Alex Mashinsky on Thursday, issuing a permanent ban that prevents him from registering with the CFTC and from trading in commodities, futures and derivatives markets the agency oversees. Earlier this year Mashinsky pleaded guilty to securities and commodities fraud and in May 2025 received a 12-year prison sentence for misleading Celsius customers about the safety of the lending platform. He continues to face civil charges from the Securities and Exchange Commission; the SEC told a federal court in late May that it has engaged in substantive settlement discussions with Mashinsky, with no agreement announced.

The Ethereum Foundation said co-executive director Hsiao-Wei Wang stepped down effective immediately following a recent sabbatical. In a post on X, Wang wrote: “Ethereum has always been bigger than any role.” Vitalik Buterin commented that Wang had taken on “the most challenging position in the Ethereum Foundation.” Tomasz Stanczak, who shared leadership with Wang, left his role earlier this year. The foundation has recorded an estimated 19 layoffs and departures so far in the year.

All three items are unfolding before MiCA’s July 1 transitional deadline and amid ongoing legal and governance processes affecting firms and individuals in the cryptocurrency sector.