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A little over a year after it was reprimanded for offering stock-like token without publishing an investor prospectus, Binance is trying to get a license to operate in Germany.
The chief executive of the exchange said that they are in talks with BaFin to expand their presence in Germany. Any business that wants to offer custody of cryptocurrencies needs to apply for a license from BaFin.
In an interview at the Finance Forward conference in Hamburg on Wednesday, Zhao said that his team is talking with regulators in all of Europe.
The conversations are confidential, so Zhao wouldn't give more details. He said that the company is hiring a lot more people in Germany.
We are doing a better job of communicating with regulators here. He said that they want to grow their market in Germany and that they still hope to get a license there.
BaFin warned about the exchange's offering of token tied to the performance of popular US stocks.
BaFin scrutiny was brought on by the draw of the tesla token from the exchange.
BaFin said in a statement at the time that there may have been a violation of security rules. The regulator does not comment on individual cases, according to a spokesman.
The French government gave the go-ahead for the exchange to make Paris its European hub earlier this month.
Up to 250 people will be hired to work on infrastructure development in France as a result of a 100 million euro investment by Binance.
With assistance from Ben Bartenstein.
(Adds BaFin declined to comment.)
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