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[size=52]A new setback for the world's largest digital currency platform[/size]
- Today 14:45
Information/follow up.
The largest cryptocurrency exchange, Binance, has retracted an earlier application to register with Germany's financial regulator, marking the latest regulatory setback for the popular crypto firm.
“Binance confirms that it has proactively withdrawn its application with BaFin,” a company spokesperson said in a statement. “This is because the situation has changed dramatically, both on the global market and on the regulatory front. However, Binance still intends to apply for the appropriate license in Germany, but it is imperative that our application accurately reflects these changes.”
Binance has faced a lot of pressure elsewhere in Europe and the world. In the past month, the company has exited operations in a number of European jurisdictions, including Belgium, Cyprus and the Netherlands, either voluntarily or at the request of local authorities.
French prosecutors have also launched an investigation into the company for aggravated money laundering, while Binance and its CEO Changpeng Zhu face lawsuits from US regulators.
German fintech magazine Finance FWD had previously reported that German regulator Baffin was considering rejecting Binance's application that month, though Binance notified the magazine at the time that talks were still under way. Ended/25 h
https://almaalomah.me/news/economy/%D8%A7%D9%86%D8%AA%D9%83%D8%A7%D8%B3%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D9%86%D8%B5%D8%A9-%D9%84%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85
The largest cryptocurrency exchange, Binance, has retracted an earlier application to register with Germany's financial regulator, marking the latest regulatory setback for the popular crypto firm.
“Binance confirms that it has proactively withdrawn its application with BaFin,” a company spokesperson said in a statement. “This is because the situation has changed dramatically, both on the global market and on the regulatory front. However, Binance still intends to apply for the appropriate license in Germany, but it is imperative that our application accurately reflects these changes.”
Binance has faced a lot of pressure elsewhere in Europe and the world. In the past month, the company has exited operations in a number of European jurisdictions, including Belgium, Cyprus and the Netherlands, either voluntarily or at the request of local authorities.
French prosecutors have also launched an investigation into the company for aggravated money laundering, while Binance and its CEO Changpeng Zhu face lawsuits from US regulators.
German fintech magazine Finance FWD had previously reported that German regulator Baffin was considering rejecting Binance's application that month, though Binance notified the magazine at the time that talks were still under way. Ended/25 h
https://almaalomah.me/news/economy/%D8%A7%D9%86%D8%AA%D9%83%D8%A7%D8%B3%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D9%86%D8%B5%D8%A9-%D9%84%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85
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