German finance regulator BaFin_Bund has reportedly decided not to grant binance a crypto custody license. iamsandali reports.
The report added that it's unclear if the denial was a formal decision from the Federal Financial Supervisory Authority or an intention expressed in ongoing discussions.
"While we are unable to share details of conversations with regulators, 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,” a Binance spokesperson said in an emailed statement to CoinDesk.
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