Binance has withdrawn an application to register with the German financial regulator, marking the latest European regulatory setback faced by the world’s largest cryptocurrency exchange.
“Binance confirms that it has proactively withdrawn its BaFin application,” a spokesperson for the firm said in an emailed statement on Wednesday. “The situation, both in the global market and regulation has changed significantly. Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.”
Binance has been facing mounting pressure elsewhere in Europe and globally. Last month the firm moved to exit operations from ...
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