Coinbase has added a new cap feather after Germany’s Financial Supervisory Authority (BaFin) granted the exchange a new license. The license allows Coinbase exchange to continue operating in Germany as a crypto custodian.
BaFin announced the news on June 28 stating that Coinbase is the first company to be granted the license. BaFin added that several other firms are in the final stages of review for the same license.
Prior to this, German’s Bundestag parliament made it mandatory for firms offering crypto custody to be licensed. The government body made the announcement in 2019. In addition, Bundestag gave crypto firms up to November 30 2020 to apply for the license or leave the country.
As a result, Coinbase filed an application with BaFin in 2020. The review process has no fixed deadline as BaFi…
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Source: Cryptocurrency - investing.com
