Binance licence application rejected by German regulator

Crypto Daily
Crypto Daily

30 Jun 2023 10:56 AM

Binance’s crypto custody licence application has reportedly been rejected by the German BaFin regulator....

  • Binance's crypto custody license 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 (CZ), who is already defending his company and himself against accusations by the US Securities and Exchange Commission (SEC).
  • Binance remains confident in meeting BaFin's requirements and continuing discussions with regulatory authorities in Germany.
  • The outcome of the SEC accusations against CZ will likely impact Binance's ability to obtain regulatory licenses in other countries.
  • Binance and Coinbase are important battlegrounds for the crypto industry's momentum.

The sentiment of the article is negative, highlighting the challenges and setbacks faced by Binance in terms of regulatory issues and legal battles.

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You May Ask

What is the latest setback for Binance according to the article?Which regulatory authority rejected Binance's crypto custody license application?Who is currently suing Binance?What accusations has the US Securities and Exchange Commission made against Binance's CEO?Why are obtaining regulatory licenses in other countries expected to be difficult for Binance?

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