Reuters: Binance's investment company withdraws its application for a fund management license in Abu Dhabi

ChainCatcher news, according to Reuters, a spokesperson for Binance stated on Thursday that Binance's investment company, BV Investment Management, has withdrawn its license application to the Abu Dhabi financial regulator.

The regulator's website shows that Binance submitted the application a year ago and withdrew it on November 7 of this year. The license would allow Binance's subsidiary to manage a collective investment fund. The Binance spokesperson stated, "In assessing our global licensing needs, we determined that this application was unnecessary. The decision to withdraw the license application is unrelated to the settlement with the U.S. Department of Justice."

He mentioned that Binance will announce the location of its global headquarters "at the appropriate time," but declined to provide further details. Additionally, Binance will continue to work with regulators to "provide world-class services and products in the Middle East and beyond."