The Cyprus Securities and Exchange Commission said that Binance Cyprus has given the regulator notice of its withdrawal from the local market.</div
The administration of Binance did not disclose the official reason for the closure of the subsidiary in Cyprus. The decision to shut down Binance Cyprus almost coincides with the filing of an SEC lawsuit against parent Binance and its U.S. subsidiary Binance.US.
The Cyprus Securities and Exchange Commission (CySEC) confirmed the delisting filing.
“Binance Cyprus is under review by the regulator for a delisting application,” the regulator’s website said.
Earlier, Patrick McHenry, head of the U.S. House Financial Services Committee, told
journalists that SEC head Gary Gensler should have acted more quickly and decisively on penalizing the cryptocurrency exchange Binance.<br