Binance has withdrawn its application for a crypto license in Germany, following reports that the German financial regulator had denied the exchange a crypto custody license. In a statement given to Decrypt, a Binance spokesperson said, "Binance confirms that it has proactively withdrawn its BaFin application." Media reports from last month indicated that BaFin, the German financial regulatory authority, had denied Binance's application for a crypto custody license. At the time, a Binance spokesperson stated their commitment to work with regulators and continue discussions with the German authorities. Binance and European regulatorsBinance has recently withdrawn license applications in Austria, the Netherlands and Cyprus, and last month lost its partnership with European banking partner PaySafe.

Source: The Nation July 27, 2023 03:09 UTC