Binance wants out of Cypriot crypto register

Binance’s Cyprus unit has applied to be removed from Cyprus’ register of crypto asset service providers, the securities regulator website showed on Wednesday, without detailing the reason for the application.

It was unclear when Binance applied to deregister.

The exchange, the world’s biggest, announced its registration with the Cyprus Securities and Exchange Commission in October 2022.

A source at the regulator said on Wednesday that Binance never launched its business in Cyprus.

The Cyprus registration allowed Binance to offer spot trading, custody and other services in compliance with Cyprus’ anti-money laundering and counter-terrorist financing rules, the exchange has previously said on its website.

Binance did not immediately respond to a request for comment.

Last week, the US Securities and Exchange Commission (SEC) sued Binance, its founder Changpeng Zhao, and the operator of its purportedly independent US exchange.

Binance said it intends to defend itself “vigorously” against the SEC’s charges. [Reuters]