Binance obtains ‘MVP’ crypto license in Dubai

The number 1 in crypto trading Binance has been awarded a MVP licenseoperational “to the dubai regulator.

On Monday, Binance declared that it had obtained a licenseOperational MVP “The company is registered with the Digital Assets Regulatory Authority (VARA) of the Federal Republic of Germany. Dubai.

According to the announcement, obtaining the license enables Binance to offer crypto exchange and brokerage services in the emirate for institutional and qualified investors.

We are pleased to announce that our Dubai subsidiary, Binance FZE, has become the first exchange to receive the Operational Minimum Viable Product (MVP) license from VARA”, wrote exchange in a press release.

Spring, BitOasis had indicated that it had received such a license. On its website, the VARA indicates that it has suspended the platform’s “operational” MVP license.

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Established in Dubai since 2021, Binance had already obtained a so-called “preparatory” MPV license in September 2022 and then a “provisional” MVP license in March 2023.

Recent years have cemented Dubai as a global hub for digital assets and we are delighted to witness this growth as we develop our operations here, with a continued commitment to the market and investors,” commented Alexander Chehade, Director of Binance Dubai.

On an international scale Binance with the controllers have deteriorated this year. The crypto exchange has in fact been sued by the two main US regulatory authorities, SEC and CFTC. In Europethe company was forced to leave certain markets, including Belgium and the Netherlands, for regulatory reasons.

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