European Central Bank President Christine Lagarde worried that the proliferation of dollar-based stablecoins via Binance would undermine the central bank's digital euro project.

From the articleECB President Christine Lagarde blocked Binance’s EU MiCA license, says WSJAlso in WSJ: Lagarde Blocked Binance's EU License and Left It Locked Out, European Central Bank President Blocked Binance's EU Entry, ECB Chief Christine Lagarde Torpedoed Binance's EU Licensing Attempt in Greece - Blockonomi, Binance's EU Entry Personally Blocked by ECB President. What Did She Know?