Leading crypto exchange platform Binance has been granted a virtual asset license to operate in Dubai. The license was issued under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, days after Bahrain granted a <a href="https://www.cryptoknowmics.com/news/central-bank-of-bahrain-grants-binance-the-first-license-for-a-global-crypto-asset-provider/">crypto asset service provider license</a> to Binance.

The virtual asset license allows Binance to extend limited exchange products and services to pre-qualified investors and professional financial service providers in the country. It can now operate within Dubai's "test-adapt-scale" virtual asset model, which is the first step to further expanding its services in the region.
<h2>Getting a Stronghold in the Middle East Region</h2>
[embed]https://twitter.com/cz_binance/status/1504093384922775553[/embed]

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<h2>Binance to help Dubai Develop a Crypto Regulatory Framework</h2>
The recent announcement of Binance obtaining a virtual asset license is not surprising as the firm <a href="https://www.binance.com/en/support/announcement/46d81eb19a224cba807e078dc95aa886" target="_blank" rel="nofollow noopener">announced</a> that it had signed a memorandum of understanding (MoU) to help the Dubai World Trade Centre Authority (DWTC) in establishing a crypto regulatory framework in December 2021.

Binance Obtains Virtual Asset License to Operate in Dubai

Leading crypto exchange platform Binance has been granted a virtual asset license to operate in Dubai under the Virtual Asset Regulatory Authority (VARA).

Manisha is a content writer specializing in the crypto and blockchain space. Having around 1 year of experience in the crypto industry, she covers different types of content - articles, educative blog posts, and newsletters. The global-scale adoption of cryptocurrencies and the evolution of blockchain space fascinate her.

Binance Obtains Virtual Asset License to Operate in Dubai

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