News - Binance cancels license application in Austria

By Mike Hesp

Binance cancels license application in Austria

Binance Coin (BNB)
Laws and regulations
Developments

The crypto exchange is getting further and further into regulatory trouble. With Austria, the next expansion in the European Economic Area fails within days.

Reportedly Binance has withdrawn its license application with the Austrian Financial Market Authority (FMA). According to the report, the crypto exchange had canceled its application some time ago, according to people familiar with the events. In addition, there had been pressure from regulators on the company.

So Binance's expansion in Austria also failed. The company is under increasing pressure in Europe.

Within a month, the exchange has already withdrawn or had to withdraw from the United Kingdom, Netherlands, Belgium and Cyprus. However, according to a spokesman, it still has "five regulated entities in Europe," including in France, Spain and Italy.

However, Binance is already under investigation in France on suspicion of money laundering.

In Germany, authorities have not yet issued a statement "on the status of any licensing procedures."

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