“Binance confirms that it has withdrawn its BaFin application. Both the global market and regulatory situation has changed significantly. The company still intends to apply for the relevant licensing in Germany, but it is important that the application accurately reflects the changes taking place,” the company explained
Earlier media reported that BaFin decided not to grant Binance cryptocurrency exchange a license. The rejection was a formal decision by BaFin or only an intention expressed in the discussions going on right now, the sources did not elaborate;
Binance has recently been forced to shrink its marketplace in Europe, including Austria, Belgium and the Netherlands. It was recently reported that EU authorities suspect that Binance’s subsidiaries in Ireland and Malta may be operating illegally;
Earlier in June, CEO Changpeng Zhao said France remains Binance’s flagship center in Europe, despite an ongoing investigation into the company’s activities there;