Binance has withdrawn its application for a crypto license in Germany, suggesting the world's biggest cryptocurrency exchange is rethinking its immediate expansion plans amid a tough regulatory stance towards the industry.
reported"Binance confirms it has proactively withdrawn its BaFin application. The situation, both in the global market and regulation, has changed significantly," a spokesperson for the company said on Wednesday.
"Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes," the spokesperson added.from the U.S. Securities and Exchange Commission accusing Binance of operating a "web of deception".But the company is also facing uphill battles elsewhere. It had to
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