In a recent development, Binance, the well-known cryptocurrency exchange, has opted to withdraw its crypto license application in Germany.
This decision comes as the exchange reportedly faced rejection from German regulators. Furthermore, Binance is currently under investigation by financial regulators in the United States and France since early 2022.
Prior to its withdrawal from the German market, Binance also made an exit from the Dutch market due to its inability to obtain a virtual asset service provider license from regulators in the country. Additionally, the exchange has sought to wind down its services in the United Kingdom and Cyprus.
Stay tuned for further updates on Binance’s regulatory challenges and its impact on the cryptocurrency industry.