Binance Receives Full Crypto License In Dubai

Binance has just marked a significant win, as the exchange received a full crypto license in Dubai after the co-founder Changpeng Zhao agreed to cede voting control in the local entity, according to the latest reports from Bloomberg, citing people familiar with the matter. Binance got a Virtual Asset Service Provider permit in the emirate and this has been reportedly confirmed to Bloomberg by Chief Executive Officer Richard Teng today. The license means an enormous win for the crypto exchange, which has been in the middle of more regulatory hits over the past couple of years. Binance FZE is the local unit in Dubai and has held Operational MVP licenses for broker-dealer and exchange services.

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