At the same time, the presence of the exchange Binance in Europe may diminish even more due to the tightening of the requirements of local regulators, said the publication WSJ. Vietnam, Turkey, India, and Argentina have the highest user traffic on Binance right now. This is according to data from the analytical company SimilarWeb.
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After SEC lawsuits, company faces backlash from financial regulators in Europe. Paysafe Payment Solutions, which is Binance’s banking partner in Europe, recently announced that it would end support for the site on September 25. And the German Financial Service (BaFin) decided not to grant a license to the exchange;
Earlier it became known that Binance withdrew its application for regulatory approval in Austria. The company also refused to register with the Cypriot securities regulator and decided to leave the Netherlands after an unsuccessful attempt to register. In addition, the exchange was ordered to halt operations in Belgium as the firm faced accusations from the U.S. securities regulator for allegedly using an unregistered trading platform;
EU countries also suspect that Binance subsidiaries in Ireland and Malta may be operating illegally.