Binance exchange's attempt to register in Germany has been stalled by BaFin's refusal
from FinanceFWD, German regulator BaFin has rejected the application for an operating license from the trading platform, an apparent setback in its plans.Per the report, CEO of Binance Germany Jonas Jiinger has been unable to get the exchange licensed due to the fact that regulatory requirements are now too stringent to meet.
"While we cannot share details of our discussions with regulators, we are continuing to work to meet Bafin requirements." It is an"ongoing process." a Binance statement reads, adding that it remains"confident that we have the right team and the appropriate measures in place to continue our discussions with the regulators in Germany."Light at end of tunnel?
Binance exchange remains one of the exchanges with the widest regulatory crackdowns in the industry. Besides apparent roadblocks in Europe, the trading platform is also under The trading platform has been contending with regulatory uncertainties for a while now, and it has been able to surmount some of its challenges as they come up. The firm has signed an MOU with the government of Kazakhstan, a move that has birthed a new exchange in the country.
Binance is unrelenting in seeking approval in all jurisdictions it operates in, and by its consistency, it showcases that there is light at the end of the tunnel.
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