Coinbase vs binance license#

The platform added eight crypto assets for German residents after it expanded XRP's availability to the country last week. and Europe, Coinbase has been expanding its offerings in Germany. While Binance is facing mounting pressure in both the U.S. Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes,' the spokesperson further said. 'The situation, both in the global market and regulation has changed significantly. 'Binance confirms that it has proactively withdrawn its BaFin application,' a spokesperson for the company told Bloomberg via email.

Coinbase vs binance license#

This marks another regulatory setback for the exchange after facing restrictions in Belgium, denial of a license application in the Netherlands, and an ongoing investigation in France for alleged violations of anti-money laundering laws. However, on Wednesday, Binance confirmed that it had withdrawn its application to register with BaFin. Last month, German media reported that BaFin denied Binance's crypto custody license application.īinance initially claimed to have the right team and measures in place to continue discussions with German regulators. In Europe, Binance has encountered numerous issues, with several countries ordering the exchange to cease operations. Securities and Exchange Commission (SEC) following a lawsuit alleging violations of U.S. Recently, they faced regulatory enforcement from the U.S. Meanwhile, Coinbase has announced that eight crypto assets are now available to its German users.īoth Binance and Coinbase are among the world's largest centralized cryptocurrency exchange platforms by trading volume. Binance confirmed that it has withdrawn its application to register with BaFin Wednesdayīinance has withdrawn its cryptocurrency license application in Germany, nearly a month after reports emerged that the German regulator BaFin would not grant the exchange a cryptocurrency custody license.Coinbase expanded XRP's availability to German residents a week ago.Last month, Binance said that it has the 'right team and measures in place to continue our discussions with regulators in Germany'.