In June, Binance was rejected for registration by Germany; Binance spokesperson confirmed that they have voluntarily withdrawn their application for a German license.
Previously, Binance was exposed by foreign media for having its registration application in Germany rejected by the regulatory authority on June 26th. A Binance spokesperson has confirmed this news to CoinDesk.
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Binance Spokesperson: Withdraws Application for German License
According to a report by CoinDesk, a spokesperson stated that Binance has voluntarily withdrawn its license application from the German Federal Financial Supervisory Authority BaFin. The spokesperson said:
The global market and cryptocurrency regulations have undergone significant changes, and Binance still plans to apply for relevant licenses in Germany. However, the content of our application must accurately reflect these changes, which is crucial.
On June 26, financial media outlet Finance Forward previously reported that BaFin had rejected Binance's application. At that time, the spokesperson stated that they were working to meet BaFin's requirements, emphasizing that the licensing application would be a long process and refused to disclose details of discussions with regulatory authorities.
Previous Report: Binance's Compliance Journey in Europe Stumbles, German Cryptocurrency Custody License Application Suspected Rejection
Binance Faces Challenges in Europe
Binance has faced difficulties in obtaining licenses in European countries this year, including recent regulatory challenges:
United Kingdom: Binance's UK division has canceled its registration with the Financial Conduct Authority (FCA)
Netherlands: Binance announced its exit from the Dutch market and will only provide withdrawal services after mid-July
Belgium: The Belgian Financial Services and Markets Authority ordered Binance to cease operations, potentially involving criminal penalties
- Austria: Binance has withdrawn its Austrian license application and will re-enter the EU following the MiCA framework
France Investigation: Reports revealed that Binance is under investigation for money laundering in France, Zhao Changpeng denied the allegations
- Cyprus: Binance voluntarily revoked its license, a situation similar to Austria
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