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Finance

Binance in Talks for Regulatory Approval in Germany, CEO Says

Changpeng Zhao says the crypto exchange is recruiting compliance personnel in the country.

By Jamie Crawley
AccessTimeIconMay 18, 2022 at 12:26 p.m. UTC
Updated May 11, 2023 at 5:34 p.m. UTC
Binance CEO Changpeng "CZ" Zhao (CoinDesk)
Binance CEO Changpeng "CZ" Zhao (CoinDesk)

Cryptocurrency exchange Binance is in talks to gain regulatory approval in Germany, founder and CEO Changpeng "CZ" Zhao said.

  • Binance is recruiting compliance personnel for its team in Germany and hopes to win a license there, he said at an event in Hamburg on Wednesday.
  • "Our team is definitely talking with regulators here," he said.
  • Binance recently registered as a digital asset service provider with the Autorité des Marchés Financiers (AMF) in France.
  • Having already obtained approval to operate in Bahrain, Abu Dhabi and Dubai, Binance turned its attention to securing licenses in the world's largest marketplaces.
  • A license in Germany, Europe's largest economy, could open the door to greater regulatory approval elsewhere on the continent.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter