"The Road to Compliance" Moves Forward: Binance Granted "Official Operating License" in Dubai

Binance, the world's largest cryptocurrency exchange by trading volume, has announced that its Dubai-based subsidiary, Binance FZE, has been granted an official Virtual Asset Service Provider (VASP) operating license by the authorities after nearly a year of effort.

Acquiring a cryptocurrency license in Dubai involves four stages, with Binance obtaining the "Minimum Viable Product (MVP) Temporary License" in March and September 2022, followed by the "MVP Provisional License" last July. This allowed the exchange to offer a range of approved services to eligible clients and corporate customers, including cryptocurrency trading services and brokerage services.

The current FMP license now permits Binance to offer various products and services to retail customers, including cryptocurrency spot trading, margin trading, and staking.

This article is from blockcast:https://blockcast.it/2024/04/18/binance-granted-full-virtual-asset-services-provider-license-in-dubai/

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