Binance officially withdrew its application for a crypto license in Germany after regulators denied the exchange’s application in June.
Crypto exchange Binance confirmed it has “proactively withdrawn” its application for a crypto license in Germany.
German Regulators Deny Binance’s Application
Reports indicate that Binance officially withdrew its BaFin application. Reuters cites a spokesperson for the exchange who said:
“Binance confirms it has proactively withdrawn its BaFin (Germany’s financial regulator) application. The situation, both in the global market and regulation, has changed significantly.”
Adding,
“Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.”
Crypto news website CoinDesk first reported Binance’s application withdrawal.
German-based Finance Fwd website reported last month that Germany’s Federal Financial Supervisory Authority (BaFin) either officially
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