As reported by Coindesk, Binance, the world's largest cryptocurrency exchange, has withdrawn its application for a crypto license in Germany.
Binance has withdrawn its license application to German financial regulator BaFin, a Binance spokesperson said in a statement.
“Binance has withdrawn the BaFin app.
The situation both in the global market and in legislation has changed significantly.
Binance is still planning to apply for the appropriate license in Germany, but it is critical that our application accurately reflects these changes.”
Binance's move to Germany came after troubles in countries such as Cyprus, the Netherlands and Belgium.
Because Binance withdrew its application in Cyprus in the past months, while Belgium ordered Binance to cease its activities in the country.
