Binance Withdraws Application for Abu Dhabi License, Reassessing Compliance Needs Binance has officially withdrawn its application for a financial license in Abu Dhabi, according to Reuters. This move is indicative of the exchange’s ongoing reassessment of its global operations and
licensing requirements. The application, submitted by BV Investment Management, a
Binance unit, aimed to manage collective investment funds as per the details on the regulator’s website. According to a spokesperson for Binance, the move to retract the application was a strategic decision to align with the company’s reassessed
compliance needs. “When assessing our global licensing needs, we decided this
application was not necessary,” said the spokesperson.
This application, filed a year ago and officially retracted on
November 7th, signals a potential shift in Binance’s operational focus and global strategy. Despite the timing, the decision to pull the
license application was “unrelated” to the
U.S. settlement, according to the
spokesperson.
