CySEC Deletes Binance Cyprus from List of Registered Crypto Asset Service Providers

The Cyprus Securities and Exchange Commission (CySEC) has deleted crypto exchange Binance from its list of registered Crypto Asset Service Providers (CASP).

In an announcement on Monday (September 11), the regulator stated: "(CySEC) has decided, pursuant to section 61E(5)(b) of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, as amended, and article 7(1)(a) of Directive for the Register of Crypto Asset Service Providers, to delete the company Binance Cyprus Ltd, with Registration Number 022/22, from the Register of Service Providers of Crypto-assets."

According to the announcement, the Binance Cyprus subsidiary "has not provided services on Crypto-assets for a continuous period of six (6) months".

Binance won its registration as a CASP in Cyprus in October 2022. In June of this year, the crypto giant decided to pull back its efforts in Cyprus​ to "focus on our efforts on fewer regulated entities in the EU", a Binance spokesperson said in an email.

Binance has been continuously expanding its global footprint. Over the past two months, the crypto exchange has successfully obtained virtual assets services provider licenses in Dubai and El Salvador​.