According to a company spokesperson, cryptocurrency exchange Binance has withdrawn its application for an Abu Dhabi licence, as reported by Reuters.
Reuters said that the application, which was submitted a year ago, was withdrawn on November 7. Binance would have been able to run a pooled investment fund with the licence.
“When assessing its global needs,” a representative for Binance concluded that the application was not required, as reported by the news organisation.
CEO Richard Teng stated during an interview for a Financial Times conference on Tuesday that the exchange has a licence in Dubai, which also serves as the company’s Middle East and North Africa headquarters.
CEO Richard Teng stated during an interview for a Financial Times conference on Tuesday that the exchange has a licence in Dubai, which also serves as the company’s Middle East and North Africa headquarters.
The exchange settled a lawsuit in the United States, agreeing to pay a $4.3 billion fine for breaking money transmitter and anti-money laundering regulations. This decision has nothing to do with that settlement.