Binance drops his license application in Austria

• The Binance Austria GmbH has revoked its license as a provider of virtual assets from the Austrian Financial Market Authority (FMA).
• So far, Binance has withdrawn the registration in the Netherlands and in the United Kingdom.
• The only European countries in which Binance is legal are France, Italy, Spain, Poland, Sweden and Lithuania.

Binance Austria GmbH, a 100 % subsidiary of Binance, has revoked its license registration with the Austrian Financial Market Authorization (FMA) due to the increasing problems due to the problems that Binance had with tax authorities worldwide.

After the Cryptocurrency Exchange Binance was faced with increasing regulatory obstacles on the part of the US stock exchange supervision SEC (Securities and Exchange Commission) and in Europe, it has withdrawn its license applications in various European countries, including the United Kingdom and the Netherlands, as already reported here.

However, Binance is still legal for the company in Sweden, Italy, Spain, France, Poland and Lithuania. The Belgian financial supervisory authority also instructed Binance last week to hire all services in the country.

In response to a prominent media company, a Binance spokesman said:

"We are unable to pass on details of our conversations with the supervisory authorities, but we are still striving to act in accordance with our obligations, wherever Binance works." Our current focus in Europe is to ensure that we fully meet the requirements of Mica (Markets in Crypto Assets) if it will be implemented at the end of next year. ”

Binance Austria GmbH

reported Binance founded the Binance Austria GmbH in 2022 with the aim of receiving a license for the subsidiary.

However, it is said that the subsidiary had difficulties with the Austrian supervisory authority, which led to the decision to cancel the license procedure in the course of the worldwide conviction of the stock exchange.