Binance Hiring Over 100 Positions to Help Frame Dubai's Crypto Regulation
Binance Working Closely With Dubai Government
After being licensed by Dubai's new virtual assets regulator this month, Binance is now working closely with its local government to help in the shaping of Dubai's new virtual assets' regulations. Additionally, the firm is also helping the city’s financial free-zone develop a virtual asset ecosystem.
“It is a very progressive framework and we are very happy to be part of that process, working very closely with the Dubai government. I wish more regulators globally adopt this approach that Dubai has - a public-private sector partnership,” Richard Teng, Binance’s MENA head, told Reuters.
While Binance does not have a central headquarters, CEO and founder Changpeng Zhao said that he wants to establish a number of regional centres.
"Definitely Dubai is a very important hub that we are looking at to consider different options going forward,” Teng said.
Dubai Looks to Become the Global Crypto Capital
In March, Dubai issued its first digital assets law and formed the Virtual Asset Regulatory Authority (VARA) to help develop Dubai and the UAE as regional and global destinations for the crypto market players.
Earlier this month, it recently licensed Binance and FTX Europe to set up in Dubai. Bybit announced this week that it would be moving its headquarters from Singapore to Dubai. Moreover, Crypto.com also announced plans to set up its regional office in the city.