<span style="font-weight: 400;">Following the issuing of its provisional license in March 2022, Binance, the top worldwide supplier of blockchain services, has been <a href="https://www.binance.com/en/blog/ecosystem/binance-secures-mvp-license-from-dubais-virtual-assets-regulatory-authority-1769976226630788159">granted</a> the Minimal Viable Product (MVP) license by Dubai's Virtual Asset Regulatory Authority (VARA). The MVP license allows Binance to operate inside Dubai's internationally acclaimed legal framework for virtual asset service providers, providing a range of virtual asset-related services to appropriately qualified institutional and retail investors (VASPs).</span>
<h2>Binance Secures MVP Licence</h2>
<span style="font-weight: 400;">Binance will serve a customer that VARA has pre-approved and who may now take advantage of the local banking channels made available by this pioneering regulatory license. Trading on a regulated platform under the direction of VARA in Dubai will provide users with higher levels of consumer protection. </span><span style="font-weight: 400;">Binance can now create a client money account with a domestic bank and offer services to qualifying consumers thanks to the move from a Provisional License granted earlier this year to an MVP Licence. </span>

<span style="font-weight: 400;">Changpeng Zhao (CZ), founder and CEO of Binance, commented: "<em>At Binance, we welcome globally consistent regulations, enable responsible innovation, protect users, and give them a choice. </em></span>
<h2><span style="font-weight: 400;"> Dubai Virtual Asset Regulation Statute</span></h2>
<span style="font-weight: 400;">Under the Dubai Virtual Asset Regulation Statute, the first law of its type to regulate virtual assets, VARA was founded in March 2022. This most recent registration recognizes the compliance and safety procedures under the current regulatory framework and further establishes VARA's distinction as an industry leader. Following multiple registrations for Binance's local organizations in the MENA area and throughout Europe in Italy, France, and Spain, this license is an important milestone. </span><span style="font-weight: 400;">Additionally, it demonstrates Binance's intention to be a platform that follows regulations and has strict compliance and security measures with consumer protection and market integrity at its core.</span>

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Binance Secures MVP License from Dubai’s Virtual Assets Regulatory Authority

Binance, the top worldwide supplier of blockchain services, has secured the Minimal Viable Product license by Dubai's Virtual Asset Regulatory Authority.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Binance Secures MVP License from Dubai’s Virtual Assets Regulatory Authority

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