German regulator reportedly rejects Binance's crypto custody l | DeCenter – Blockchain and Bitcoin

German regulator reportedly rejects Binance's crypto custody license demand

The Federal Financial Supervisory Authority (BaFin), the German financial regulator has reportedly rejected Binance’s crypto custody license application.

The news was first reported by Forward Finance citing people familiar with the matter. Later Cointelegraph reached out to Binance to confirm the same and a spokesperson from the firm said that they are “unable to share details of conversations with regulators,” while adding:

“We continue to work to comply with BaFin‘s requirements. As expected, this is a detailed and ongoing process. We are confident that we have the right team and measures in place to continue our discussions with regulators in Germany.”

@DeCenterOrg