Binance has withdrawn its license application in Austria.
Binance, the world’s largest cryptocurrency exchange, announced that it has withdrawn its license application to the Austrian Financial Market Authority. However, there were statements from the experts.
Binance Withdraws Its License Application To The Austrian Financial Market Authority
Binance is trying to complete its Austrian expansion. However, those familiar with the matter claim that the crypto exchange withdrew its application for registration with the financial supervisory authority FMA some time ago and that the authorities were putting pressure on it in the background.
Binance announced that it wanted to expand to Austria about a year ago. The exchange started operations last spring under the name Binance Austria GmbH. They also wanted to obtain a license for the subsidiary, allegedly registering as a “service provider in relation to virtual currencies”. However, it turns out that this means companies such as Vienna-based crypto exchange Bitpanda or crypto company Anycoin may have the appropriate licenses.
Binance suffered several bitter defeats with news that the SEC, the US regulator, is investigating Binance and its founder, Changpeng Zhao (CZ). It is also known to face major problems with supervisory authorities in Europe. However, the exchange withdrew its application for the license in Austria.
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