Binance withdraws license application from Germany’s financial regulator BaFin.

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Binance, the largest crypto exchange has withdrawn its license application from Germany’s BaFin due to a change in the global market and regulatory situation. The cryptocurrency exchange has retrenched from several markets, including Austria, Belgium, and the Netherlands, and faces a lawsuit from US regulators for operating an unregistered exchange. Despite a money laundering probe in France, Binance CEO Changpeng Zhao said France remained the exchange’s flagship center in Europe.