United

One of the world's largest cryptocurrency exchanges, Binance, has withdrawn its license application from Austria. This latest development follows the recent exits from the Netherlands and Cyprus, as the exchange continues to navigate a complex regulatory landscape.   
In addition to its European woes, Binance is facing legal battles with the US Securities and Exchange Commission (SEC) and has encountered regulatory issues in Canada and Australia.   
Binance's Withdrawal from Austria   
Finance FWD has <a href="https://financefwd.com/de/binance-oesterreich/">reported</a> that Binance withdrew its license application from Austria some time ago. The exchange declined to provide further details when questioned by Blockworks.   
However, Binance emphasized its commitment to compliance and stated that its current focus in Europe is on ensuring full compliance with the requirements of the Markets in Crypto Assets (MiCA) regulation, set to be implemented by the end of next year.   
European Exodus   
Binance's withdrawal from Austria adds to a growing list of European nations where the exchange is no longer operating.   
Just over a week ago, Binance announced its departure from the <a href="https://optimisus.com/news/crypto-news/binance-closes-operations-in-netherlands/">Netherlands</a>, citing difficulties in obtaining a license. Cyprus also saw the closure of Binance's unit recently, further highlighting the challenges faced by the exchange across Europe.   
Regulatory Woes Extend Beyond Europe   
Binance's regulatory issues extend beyond Europe. The exchange and its CEO, Changpeng Zhao (CZ), were sued by the SEC in the United States for the alleged sale of unregistered securities and the commingling of customer funds.   
Binance vehemently denied mishandling user funds and criticized the SEC's lawsuit as unjustified. In Canada, Binance ceased operations in May, citing the market's untenability due to restrictions on stablecoin use.   
Meanwhile, in Australia, Binance has faced scrutiny from regulators, with the Australian Securities and Investments Commission (ASIC) revoking Binance Australia's derivatives license and the exchange suspending select Australian dollar deposits for PayID transfers. 
The post <a rel="nofollow" href="https://optimisus.com/market/market-news/binance-withdraws-from-austria-finance-fwd-reveals/">Binance Withdraws from Austria, Finance FWD Reveals</a> appeared first on <a rel="nofollow" href="https://optimisus.com">Optimisus</a>.

Binance Withdraws from Austria, Finance FWD Reveals

Optimisus

Other articles published on Jun 27, 2023

Bitcoin Holds Ground Above $30,000 Support, Eyes Key Resistance Levels

How to Trade with Leverage?

Sekuya’s Listing Skyrockets with 2300% Price Surge on Coinstore

Bitcoin Miners Sent $128 Million Worth of BTC to Exchanges! Is Sales Coming?

LEADER BOARDS Weekly Statistics

ChainGPT Incubation: Solidus AI Tech

Join our free newsletter for daily crypto updates!