The US Securities and Exchange Commission sued the world’s largest crypto exchange and its boss Changpeng Zhao in early June.
(Photo: Reuters)
Frankfurt The world’s largest crypto exchange Binance is unlikely to get a license in Germany. The German financial regulator Bafin has given Binance to understand that the group will not receive the crypto custody license it is seeking, a person familiar with the matter told Handelsblatt. The industry portal “Finance Forward” had previously reported on this.
Binance said it is not commenting on discussions with regulators and is continuing to work to meet Bafin requirements. “We are confident that we have the right team and the appropriate measures in place to continue our talks with the regulatory authorities in Germany.” Bafin said it would not comment on individual companies or the status of any licensing procedures.
Binance is in conflict with numerous overseers. The US Securities and Exchange Commission (SEC) sued the world’s largest crypto exchange and its boss Changpeng Zhao in early June. She accused Binance of building a “web of deception”.
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