The Federal Financial Supervisory Authority has issued a crypto custody business license for Coinbase’s Germany arm.
In a Monday announcement, Germany’s Federal Financial Supervisory Authority, also known as BaFin, said it had issued Coinbase the first such license for a crypto exchange related to custodying digital assets in the country. The regulator said due to the lack of precedent, it would be forming an interdisciplinary, cross-divisional and cross-departmental team to handle any issues related to crypto custody.
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