Despite encountering some tough challenges in European markets, Binance has ensured almost all methods of deposits and withdrawals of other fiat currencies as well as buying and selling crypto on its platform remain unaffected, which include transferring money with bank transfer and Exchange-Trade-Funds (ETFs). Furthermore, amidst rumors of German’s top regulator BaFin rejecting its custody license application, the crypto exchange is yet to disclose whether its accidental or intentional.
Binance also withdrew its license applications in Cyprus and the UK in order to meet the implementation of MiCA by 2024. Perhaps comparatively the most troublesome are the allegations in the U.S., along with its rival Coinbase, of violating securities laws. Both the companies confirmed to address this legal problem, while staunchly refuting the statements.
