Binance withdraws Abu Dhabi licence bid as crypto giant weighs structure
By Elizabeth Howcroft and Hadeel Al Sayegh LONDON (Reuters) – Binance has withdrawn an application for an Abu Dhabi licence, the latest sign that the giant crypto exchange is reassessing its global structure as regulatory pressures mount. The Binance unit, called BV Investment Management, pulled the application with Abu Dhabi’s financial regulator, a spokesperson for Binance said on Thursday. The request, filed a year ago and withdrawn on Nov. 7, would have allowed the firm to manage a collective investment fund, according to the regulator’s website. “When assessing our global licensing needs,…