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Binance Crypto Custody License Application Denied by German Regulator BaFin

June 29 (Cointime) - Binance has reportedly been denied a custody license by Germany's financial watchdog, according to sources cited by Finance Forward. It is unclear whether this is a formal decision or an intention expressed in ongoing discussions.

Binance has withdrawn its application for regulatory approval in Austria, given up its registration with Cyprus' securities regulator, and decided to quit the Netherlands after a failed attempt to register. The company has said it is streamlining its European strategy in preparation for the EU's new crypto regulation.

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