Binance withdraws license application in Abu Dhabi

BV Investment Management, a subsidiary of Binance, has recently withdrawn its license application submitted to the Abu Dhabi Financial Regulatory Authority. A Binance spokesperson said the decision to withdraw the application had nothing to do with the U.S. settlement. Binance stated that the company will continue to cooperate with regulators to provide world-class services and products in the Middle East and other regions. Last year, BV Investment Management applied for a license from regulators to allow it to manage a collective investment fund. (Reuters)