Binance has withdrawn its license application with German regulator BaFin, citing changing global markets and regulations ahead of the Markets in Crypto-Assets (MiCA) bill.

The exchange said today that it would resubmit an application that, if approved, would boost its European presence in a key market ahead of new crypto laws.

Binance Rejection Rumors Circulated

Rumors of rejection by BaFin have been doing the rounds since a June report by the German website Finance Forward.

In the article, a Binance spokesperson said they were engaged in ongoing discussions with BaFin. At the time, the German regulator declined to comment.

Previously, Binance’s national head Jonas Jünger told Börsen-Zeitung, a daily financial newspaper, that BaFin’s barrier to entry was “rightly high.” In 2021, the regulator rebuked Binance for offering tokenized stocks of American companies without compliant investment prospectuses. 

Binance will lose male-dominated demographic after it withdraws its German application ahead of MiCA.

Go to Source to See Full Article
Author: David Thomas

Did you like this?
Tip BTC Newswire with Cryptocurrency

Donate Bitcoin to BTC Newswire

Scan to Donate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to BTC Newswire

Scan to Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to BTC Newswire

Scan to Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to BTC Newswire

Scan to Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to BTC Newswire

Scan to Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to BTC Newswire

Scan to Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:

BTC NewswireAuthor posts

BTC Newswire Crypto News at your Fingertips

Comments are disabled.