Crypto exchange Binance Holdings Ltd. applied to strike its local Cypriot entity off the country’s register of authorized digital asset service providers, saying it planned to refocus its efforts elsewhere in the European Union.
A listing for Binance Cyprus Ltd., a subsidiary which was approved by the Cyprus Securities and Exchange Commission to join its register of crypto providers in October 2022, was altered to say the firm was under examination for application to deregister with the watchdog, according to CySEC’s website on Wednesday. The register monitors cryptoasset companies for compliance with Cyprus’s anti-money laundering rules.
Credit: Source link