Binance pulls out of licence application in Abu Dhabi
- Date: 08-Dec-2023
- Source: AGBI
- Sector:Financial Markets
- Country:UAE
Binance pulls out of licence application in Abu Dhabi
Global cryptocurrency exchange Binance has withdrawn its licence application from Abu Dhabi Global Market, the main regulator in the UAE capital, but still wants to join an international exchange in Dubai. The troubled crypto operator withdrew its application on November 7, according to the regulator’s website. “While assessing our global licensing needs, we decided this […]
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Global cryptocurrency exchange Binance has withdrawn its licence application from Abu Dhabi Global Market, the main regulator in the UAE capital, but still wants to join an international exchange in Dubai.
The troubled crypto operator withdrew its application on November 7, according to the regulator’s website.
“While assessing our global licensing needs, we decided this application was not necessary,” a Binance spokesperson told Reuters.
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Binance applied for the licence a year ago with the Financial Service Regulatory Authority of Abu Dhabi Global Market, under its BV Investment Management unit.
Its spokesperson said the application withdrawal was unrelated to the firm’s recent settlement with the US government over allegations of breaking anti-money laundering rules.
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