.binance has withdrawn its license application in Germany, following reports it was set to be rejected. jackschickler reports.
Binance has withdrawn its application for a license from German financial regulator BaFin, the company told CoinDesk.
The move follows a retrenchment from markets including Austria, Belgium and the Netherlands, and as its U.S. arm is sued by regulators for operating an unregistered exchange. “Binance confirms that it has proactively withdrawn its BaFin application,” a spokesperson told CoinDesk in an emailed statement. “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.", but a Binance spokesperson at the time said it was continuing discussions with officials.
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