Binance Faces Setbacks in Europe: Fails to Obtain VASP License in Austria

By Lola Coin Jun 26, 202356Views

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Binance, the largest cryptocurrency exchange by trading volume, is facing challenges in Europe. It is currently being sued by the US Securities and Exchange Commission and is also struggling to obtain licenses in certain European countries. While it has acquired Virtual Asset Service Provider licenses in France, Italy, Spain, Poland, Sweden, and Lithuania, its expansion in Austria has stalled. Binance withdrew its application for registration with the Austrian Financial Market Authority. The company has also faced setbacks in the United Kingdom, the Netherlands, Belgium, and Cyprus. Despite these challenges, Binance remains determined and is focusing on compliance with new regulations. Additionally, there have been significant changes in the company’s management team in Europe, with several executives leaving in recent months. The price of Binance’s native cryptocurrency, BNB, remains vulnerable.

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