Binance Obtains Virtual Asset License to Operate in Dubai

Leading crypto exchange platform Binance has been granted a virtual asset license to operate in Dubai. The license was issued under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, days after Bahrain granted a crypto asset service provider license to Binance. The virtual asset license allows Binance to extend limited exchange products and services to pre-qualified investors and professional financial service providers in the country. It can now operate within Dubai’s “test-adapt-scale” virtual asset model, which is the first step to further expanding its services in the region. Getting a Stronghold in the Middle East Region Binance to help Dubai Develop a Crypto Regulatory Framework The recent announcement of Binance obtaining a virtual asset license is not surprising as the firm announced that it had signed a memorandum of understanding (MoU) to help the Dubai World Trade Centre Authority (DWTC) in establishing a crypto regulatory framework in December 2021.The post Binance Obtains Virtual Asset License to Operate in Dubai appeared first on Cryptoknowmics-Crypto News and Media Platform.