The world’s leading cryptocurrency exchange, Binance, has reportedly withdrawn its application for a crypto licence in Germany, revealing its reconsideration of immediate expansion strategies in the face of increasing regulatory scrutiny. Despite facing a lawsuit from the US Securities and Exchange Commission (SEC) and ongoing investigation in France, Binance stated it still plans to apply for a suitable licence in Germany in the future. The exchange recently had to leave the Netherlands due to non-compliance with the country’s registration requirements.