BaFin rejects Binance’s crypto custody license application
According to a report, the German financial regulator BaFin rejected Binance’s application for a crypto currency custody license . Finance Forward, a news outlet, reported that Germany’s financial authority has chosen not to grant Binance a custody license for cryptocurrencies, citing sources familiar with the situation. The source did not clarify whether the refusal was an official decision made by the German Federal Financial Supervisory Authority (BaFin) or if it was conveyed during ongoing discussions. A spokesperson for Binance stated that while they could not disclose specific details of their interactions with authorities, they are trying to comply with the conditions set by BaFin. As anticipated, this process is complex and continuous. You might also like: Binance withdraws license application in Austria BaFin has declined to comment on specific firms due to the strict requirements for maintaining professional confidentiality in Germany. According to...