Binance Withdraws German Crypto License Application
Binance has informed CoinDesk that it has withdrew its application for a license from the German financial regulator BaFin.
The move comes after a withdrawal from nations like as Austria, Belgium, and the Netherlands, and as its US branch is being sued by regulators for operating an unlicensed exchange.
Binance has withdrawn its BaFin application due to changes in global market and regulation. The company plans to apply for licensing in Germany, but its submission must accurately reflect these changes. In June, Finance Forward reported that BaFin was set to deny a license, but Binance is still in discussions with officials. The company has also given up registration with Cyprus’ securities regulator, quit the Netherlands, and halted operations in Belgium.
(With inputs from Shikha Singh)
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