Binance, one of the world’s largest crypto exchanges, is in talks with German authorities for regulatory approval, confirmed Binance CEO Changpeng “CZ” Zhao, who is currently visiting Germany.
In today’s interview at a conference in Hamburg, CZ confirmed the existence of talks between the Binance team and German regulators.
“Germany is a very important market, it is also one of the G7 countries”, CZ shared† “We have done a much better job communicating with the regulators here and we are still hoping to get a license in Germany. We want to grow our market here.”
Zhao further revealed that Binance is actively recruiting new team members, especially for its compliance team, with the aim of establishing the “right” organizational structure for its division in Germany.
“Regulatory communications are confidential, our team is definitely in talks with regulators here and across Europe. Based on the feedback from my team, things are going well,” CZ teased.
Earlier in May, France promised regulatory approval to Binance, becoming the first European country to do so. The world’s largest crypto exchange by trading volume has secured a ‘Digital Asset Service Provider (DASP)’ license after months of regulatory setbacks across the continent.
“The registration of Binance France as a DASP is an important milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow cryptocurrency adoption in France and Europe. Greater adoption will help bring more liquidity to the market, which will be particularly welcomed by users and the community,” Binance France CEO, David Prince underlined at the time.