Bitcoin Drops More Than 3% – Binance Plans to Open Trading Platform in Germany

Bitcoin continues to move at the $30,000 mark. Today morning (May 21) the price of Bitcoin fell by 3.24% and moved to $29,292.2.

Bitcoin’s negative move this morning came after the Dow Jones Index closed up 8.77 points on Friday (May 20) after falling more than 600 points in intraday trading.

  • The Dow Jones Industrial Average rose 0.03% to close at 31,261.90 points.
  • The S&P 500 rose 0.01% to close at 3,901.36 points.
  • The Nasdaq fell 0.30% to close at 11,354.62 points.

Movements in the Crypto Space

Binance, the world’s largest cryptocurrency trading platform, is applying for a license to open a cryptocurrency trading platform in Germany.

Binance CEO Zhang Peng Zhao said the company is discussing the matter with BaFin as part of its plans to expand its business in Germany. BaFin’s requirements state that any company wishing to offer cryptocurrency custody services must first obtain a license.

Zhao did not provide further details as the talks remained confidential. He only said that Binance is currently hiring a large number of employees in Germany. In particular, the team that will take care of compliance.

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

Zhao said.

Negotiations with German authorities show that Binance wants to expand its business in Europe. In early May, Binance received a license to open a cryptocurrency trading platform in France. France is the first country in the European Union (EU) to allow Binance to open a cryptocurrency trading platform.

The Spot Market is Open

Saturday, May 21, 2022

Crypto
Updated at
USD
Price

Change

%Change
13.00 BTC29,218.90-248.08-0.84
13.00 ETH1,961.79-25.77-1.30
13.00 LTC69.05+0.70+1.02
13.00 BNB302.70-1.49-0.49
13.00 XRP0.410.00-1.09
13.00 ADA0.52+0.01+1.42
13.00 DOT9.69-0.04-0.36
13.00 DOGE0.080.00-0.71
13.00 UNI5.13-0.22-4.06
13.00 LINK6.91-0.11-1.57

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