Binance withdraws license application in Austria.

  • Binance Austria GmbH has cancelled its registration as a virtual asset service provider with the Austrian Financial Market Authority (FMA).
  • Binance has withdrawn its registration in the Netherlands and the United Kingdom.
  • The only European countries where Binance is currently operating legally are France, Italy, Spain, Poland, Sweden, and Lithuania.

Binance Austria GmbH, which is a subsidiary of Binance, has cancelled its registration with the Austrian Financial Market Authority (FMA) due to increased difficulties arising from the issues that Binance has been having with financial regulators worldwide.

After facing regulatory challenges from the US Securities and Exchange Commission (SEC) and in Europe, cryptocurrency exchange Binance has withdrawn its registration in various European countries, including the United Kingdom and the Netherlands, as previously reported here.

However, Binance is still legally registered to operate in Sweden, Italy, Spain, France, Poland, and Lithuania. Belgium’s financial regulator also ordered Binance to cease all services in the country last week.

When asked by a prominent media outlet, a Binance spokesperson said:

“We are unable to share details of our conversations with regulators, however, we remain committed to acting in compliance with our obligations wherever Binance operates. Our current focus in Europe is on ensuring that we will be in full compliance with the requirements of MiCA (Markets in Crypto Assets) when it is implemented at the end of next year.”

Binance Austria GmbH

Reportedly, Binance launched Binance Austria GmbH in 2022 with the aim of obtaining a license for the subsidiary.

However, the subsidiary appears to have encountered challenges with the Austrian regulator, leading to the decision to terminate its license application process in light of the global condemnation of the exchange.

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