Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Binance Withdraws Application to Manage Abu Dhabi Investment Fund: Report
ADOPTION NEWS

Binance Withdraws Application to Manage Abu Dhabi Investment Fund: Report

By Crypto FlexsDecember 7, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Binance Withdraws Application to Manage Abu Dhabi Investment Fund: Report
Share
Facebook Twitter LinkedIn Pinterest Email
Legal • December 7, 2023 4:25 PM EST

Posted 1 minute ago In ~

Binance, the world’s largest cryptocurrency exchange, reportedly decided not to obtain a license to operate a collective investment fund in Abu Dhabi.

The UAE-based Binance entity, called BV Investment Management, withdrew its application to the Abu Dhabi Financial Services Regulatory Authority in November. The application was withdrawn on November 7, according to the regulator’s website.

“When evaluating global licensing requirements, we determined that this application was not necessary,” a Binance spokesperson told Reuters. “This action is not related to the company’s recent settlement with the U.S. government over alleged violations of anti-money laundering regulations.” “he added.

guilty plea

Last November, Binance and its former CEO Changpeng Zhao pleaded guilty and agreed to pay a $4.3 billion fine to U.S. regulators. Zhao stepped down from his position as CEO and Binance agreed to appoint an independent monitor for five years “whose mandate will include the review and evaluation of Binance’s sanctions compliance program.”

A year ago, Binance secured a financial services license in Abu Dhabi that allows it to offer cryptocurrency custody to professional clients under certain conditions.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Anna is a senior policy reporter and assistant editor at The Block. She has a background in political journalism and has covered Russian civil society for various media outlets in Moscow, including her award-winning newspaper, Novaya Gazeta. Before joining The Block, Anna spent the last five years at CoinDesk researching global cryptocurrency policy and adoption. Anna says she owns Bitcoin and gift NFTs that have sentimental value.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

The Complete Guide to Crypto Website Listing Directories

July 5, 2025

Crypto Directories Listing That Will Transform Your Project’s Reach

July 5, 2025

The Ultimate Guide to Hiring a Crypto Marketing Agency

July 5, 2025

Six high upside encryption coins of less than $ 20 are seen in 2025.

July 5, 2025

Valhalla Goes Today: FLOKI has been developed for 3 years and debuts the play MMORPG.

July 4, 2025

The Open Platform Is First Unicorn In Web3 Ecosystem In Telegram At $1bn Valuation

July 3, 2025

The mindset of Retail Investors

July 3, 2025

Cooking.City Bringing Back Value Redistribution To Solana Fair Launches

July 3, 2025

XRP rebounds are interested in APT miners cloud mining.

July 3, 2025

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025

Best Crypto PR Agency Packages : What to Look For & Where to Start

July 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The Complete Guide to Crypto Website Listing Directories

July 5, 2025

Crypto Directories Listing That Will Transform Your Project’s Reach

July 5, 2025

The Ultimate Guide to Hiring a Crypto Marketing Agency

July 5, 2025
Most Popular

Sui expands DeFi horizons with native stablecoin

November 21, 2024

Solana traders can expect SOL to drop to $112, but here’s what happens next!

September 8, 2024

Bitcoin rally holds around $63,700 after fourth block reward halving.

April 20, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.