JustIn: Crypto exchange Binance applies to deregister its crypto asset services in Cyprus
The world’s largest crypto exchange – Binance – has been a hot topic in the crypto market ever since the US Securities and Exchanges Commission [SEC] sued it. In the latest developments, the exchange seems to be backtracking on its plans for Cyprus. According to the Cyprus securitiesThe exchange received a class 3 registration as a crypto asset service provider in October 2022.
Notably, a report by Reuters claims that the crypto exchange did not launch its business services in the region despite having gained approval. Additionally, the securities website does not mention when the exchange applied to deregister its services and the reason for the exchange’s move. Binance has also not released a statement on the development, at press time.
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