announced that its Dubai subsidiary, Binance FZE, was granted a VASP license by Dubai’s regulatory authority, VARA, on 26th June.The cryptocurrency exchange Binance launched a regulated entity, Binance FZE, in Dubai. This entity is licensed by the Dubai Virtual Assets Regulatory Authority to provide a variety of virtual asset services.
The move to Dubai reflects a trend within the crypto industry, with other exchanges like Crypto.com, Bybit, and OKX also obtaining similar licenses from VARA. Teng attributes this recent surge to several factors. Increased institutional adoption is a key driver, with more institutions entering the crypto space with their investments.
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