Binance to Retract it’s Abu Dhabi License Application

Binance has withdrawn its application for an investment-management license in Abu Dhabi, citing it as unnecessary for the company’s global requirements. The exchange still maintains an application to provide digital asset custody for professional clients. The decision is independent of Binance’s recent legal settlement in the U.S., where it agreed to a $4.3 billion fine for violating anti-money laundering and money transmitter rules. Binance holds a license in Dubai, serving as its Middle East and North Africa headquarters, according to CEO Richard Teng.In a bid to attract long-term residents, El Salvador launches the “Freedom VISA” program, offering residency to individuals investing a minimum of $1 million in bitcoin or tether (USDT) stablecoins. The program, capped at 1,000 participants annually, grants long-term residency and a path to citizenship, with a non-refundable application fee of $999 in BTC or USDT.Robinhood, a popular U.S.-based brokerage platform, expands its services to let European Union (EU) customers trade crypto, leveraging the region’s comprehensive digital asset regulations. As an incentive, Robinhood will credit a percentage of customers’ trading volume in bitcoin (BTC) monthly, with additional BTC rewards for referring new users. This expansion coincides with the resurgence of cryptocurrencies, reaching a total market capitalization of $1.5 trillion, the highest since May 2022, and increased trading volumes, contributing to higher revenue for trading platforms.

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