Binance is looking to win a cryptocurrency license in Germany after becoming a regulated digital asset service provider in fellow G7 nation France, CEO Changpeng Zhao said.
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- Zhao said at an event in Germany on Wednesday that the cryptocurrency exchange is expanding its compliance team in the region.
- Binance received approval from France on May 5, after Zhao revealed in April that the exchange was looking to establish a regulated entity in a G7 nation.
- Binance attempted to reenter the U.K. market in March through a partnership with a licensed crypto service provider, after its local arm was expelled from the region.
- Last June, Binance suspended euro deposits through the E.U.’s Single Euro Payments Area (SEPA) bank transfers after coming under fire from regulators on the continent.
- Binance’s European expansion comes as the exchange recently set MENA outposts in Dubai, Abu Dhabi, and Bahrain.
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