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Cryptocurrency exchange Binance wins license to operate in Dubai

by WAYA Staff - Aug 1, 2023
Cryptocurrency exchange Binance wins license to operate in Dubai

World’s cryptocurrency exchange Binance won an operational license in Dubai after it received a preparatory license in September 2022.

Binance met pre-conditions set since receiving a preparatory license in September 2022, the company announced.

According to Dubai’s regulations, Binance has passed the third step out of four steps that are needed to be fully regulated in the jurisdiction.

The world’s company is currently allowed to open a bank in Dubai and hold clients’ funds domestically, operate a crypto exchange, and offer payments. 

The green light was given after it received an MPV license from Dubai’s Virtual Assets Regulatory Authority (VARA).
Binance said that eligible users in Dubai will now be able to access authorized services.

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