Binance licence application rejected by German regulator
Binance’s crypto custody licence application has reportedly been rejected by the German BaFin regulator....
- Binance's crypto custody licence application has reportedly been rejected by the German BaFin regulator.
- Binance is facing regulatory pushback in some European countries and is currently being sued by the US regulator.
- The rejection in Germany is a setback for Binance's CEO Changpeng Zhao, who is already defending his company and himself against allegations by the US Securities and Exchange Commission (SEC).
- Obtaining regulatory licences in other countries will be difficult until the outcome of the SEC accusations is known.
- Binance and Coinbase are important battlegrounds for the crypto industry to regain momentum.
The sentiment of the article is negative, as it highlights the rejection of Binance's licence application and the challenges the company is facing with regulatory authorities.