world’s largest cryptocurrency stock market Binance for the past week SECWhile coming to the agenda with the lawsuit filed by Binance, a new move came from Binance.
According to The Block’s report, Binance has applied for the cancellation of the Cyprus license.
There was no official statement from Binance, but Cyprus Securities and Exchange Commission (CYSEC) It is understood on the website that the Cyprus branch of Binance has filed for license cancellation.
The following statements were seen on CYSEC’s website:
“Binance Cyprus Limited is under review for license deregistration application.”
It remains unclear when Binance filed for license revocation and why it did not want to operate in Cyprus.
Binance Cyprus obtained permission from CYSEC in October 2022 for Binance to provide services including spot, custodian, staking and card services in accordance with the requirements of CySEC’s anti-money laundering and counter-terrorism financing (AML/CTF) rules.
During this leave, Martin Bruncko, Binance Vice President for Europe “The registration in Cyprus is an important step in our growth in Europe and another sign of our commitment to the region. We look forward to establishing our local team in Cyprus and helping develop the local crypto ecosystem.” he said.
*Not investment advice.
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