The Wall Street JournalThe Wall Street Journal

Crypto giant Binance struggles in Europe

By Patricia Kowsmann, Caitlin Ostroff

04 Jul 2023 · 3 min read

informed Summary

  1. Unfortunately for Binance, the world's largest crypto platform, its plan to expand in Europe coincided with a regulatory crackdown in the wake of FTX's collapse.

Crypto giant Binance opened a regional headquarters in Paris last year, hoping to expand its business in Europe. Things haven’t gone its way.

The Netherlands and Belgium have shut their doors to the exchange. Germany, Europe’s largest economy, hasn’t yet given it a license to operate. And French prosecutors recently searched the exchange’s office as part of an investigation of money laundering controls.

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