Binance, the world’s largest cryptocurrency exchange by trade volume, continues its expansionist policy at full speed. Binance is known for its cryptocurrency-friendly regulations. DubaiHe made a new plan for . and started talking to the authorities.
BinanceIt is stated that ‘s is currently requesting a license from the authorities and as soon as it receives it, it will establish a new formation here to consolidate its position in the Middle East.
Binance Prepares to Enter Dubai
Bloomberg According to the news quoted by and based on a person “close to the subject”, Binance has already received pre-approval. It may not be too difficult for Binance, which has received pre-approval for the cryptocurrency exchange from the Central Bank of Bahrain, to get it from the neighboring country. It is reported that the stock exchange plans to open an exchange especially within the Dubai World Trade Center free zone.
Dubai is in a strategic effort to become a local port for the crypto industry. Dubai, which has taken steps to attract some of the world’s biggest crypto companies, may have finally gotten it. The United Arab Emirates, of which Dubai is a part, is preparing to issue federal licenses for virtual asset service providers by the end of the first quarter, and Binance CEO Changpeng “CZ” Zhao has become one of the country’s most important names in the field.
Dubai passed a bill to regulate “virtual assets” last Wednesday, and Binance CEO shared this on his Twitter account. The Dubai government actually signaled this at the end of 2021.