Cryptocurrency exchange Coinbase has received a crypto surveillance license from the regulator to continue operating in Germany.
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Coinbase has obtained a crypto custody license from the German Financial Supervisory Authority (BaFin), allowing Coinbase to continue serving the German market.
According to BaFin’s press release, Coinbase was the first company to hold this license.
In November 2019, the German parliament passed a law requiring companies that provide crypto custody services for Germans to apply for a crypto custody license or leave Germany. Companies had to submit applications by November 30.