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Binance has withdrawn an application for an Abu Dhabi license, indicating a reassessment of its global structure amid increasing regulatory pressures. The BV Investment Management unit, which was part of Binance's Abu Dhabi unit, withdrawn the application with Abu Dhabi's financial regulator. The request would have allowed the firm to manage a collective investment fund. Binance's decision to withdraw the license application was "unrelated" to the U.S. settlement. The UAE has been a key location for Binance, with regulator permissions in Dubai and Abu Dhabi. The company has also withdrawn from Germany, Cyprus, and the Netherlands. Binance has also stopped accepting new users in the UK and announced plans to sell its Russia business. In Australia, regulators cancelled the financial services license of Binance's derivatives business.
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