"Binance Abandons Abu Dhabi Licence Bid Amidst Structural Evaluation"
Binance, the world's largest cryptocurrency exchange, has withdrawn its application for an Abu Dhabi licence, indicating a reassessment of its global structure amidst increasing regulatory pressures. The withdrawal, unrelated to the recent $4.3 billion settlement with US authorities, comes as Binance has faced regulatory challenges in various countries, including Germany, Cyprus, the Netherlands, Belgium, the UK, Russia, and the Philippines. The company stated that it will continue to work with regulators to provide services in the Middle East and beyond.