Binance confirms its working to win German regulatory approval

Cryptocurrency exchange Binance said it's in talks to become regulated in Germany as it engages with regulators across Europe, confirming reports from February that the company was looking to become regulated in the country.

Speaking at the Finance FWD Conference in Hamburg, Binance CEO Changpeng Zhao said he was hopeful about the prospect of winning regulated status in Germany. 

"We hope to get a licence in Germany,"  he said. "Our team is definitely talking to regulators and based on secondary feedback the conversations are going well." 

The talks with German authorities follow the exchange's approval by French regulators earlier this month. Zhao said that Binance's push into France – which last month saw Binance announce a €100 million ($105 million) investment into the French web3 ecosystem – doesn't mean they are ignoring Germany, Europe's largest economy. 

In France, Binance can now operate its digital asset trading platform, meaning it can facilitate digital asset custody, let users buy and sell crypto and help to exchange digital assets for each other, according to the Autorité des Marchés Financiers (AMF), a French financial market regulator.