Crypto exchange Binance has withdrawn its application for a license in Abu Dhabi. “When assessing our global licensing needs, we decided this application was not necessary,” a Binance spokesperson stated, adding that the company plans to continue to work with regulators “to provide world-class services and offerings in the Middle East and beyond.”
Binance Says ‘This Application Was Not Necessary’
Cryptocurrency exchange Binance has reportedly withdrawn its application with Abu Dhabi’s financial regulator. A spokesperson for Binance said on Thursday:
When assessing our global licensing needs, we decided this application was not necessary.
According to Binance’s website, Abu Dhabi-based Binance (AD) Ltd. received conditional financial services permission from the Financial Services Regulatory Authority (FSRA) on Nov. 15 last year to provide crypto custody services. The regulator’s website details: “Binance (AD) Limited is not permitted to deal with retail clients, as
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