- The company continues to leave European markets
- Binance spokesperson says he cannot share details of negotiations with regulators
Crypto exchange Binance stopped the process of obtaining a license from the Austrian Financial Market Authority.
A Binance representative commented on this decision:
“Details of our negotiations with regulators cannot be disclosed, however, we remain true to our commitments and plan to act in accordance with them, regardless of our presence on Binance. We are currently actively working to ensure full MiCA compliance in Europe when this regulation comes into effect at the end of next year.”
According to the information, the Austrian regulator put pressure on the company, but not publicly. The company is believed to have set up Binance Austria GmbH last year in order to obtain a license for its subsidiary.
By withdrawing its application for a license in Austria, Binance has expanded the list of markets it recently left. Earlier this month, the company said it was leaving the Netherlands after failing to obtain regulatory approval. Earlier, the exchange applied for de-registration in Cyprus and de-registered with the UK Financial Conduct Authority. Also in France, an investigation into possible money laundering. Of the latter, Belgium’s financial regulator ordered Binance to stop all services in the country.