20211208 Changpeng Zhao CZ Binance 800x450 qbuCDE

Binance given nod for crypto license in Dubai

Binance said on Wednesday that it had become the latest firm to be granted a virtual asset license in Dubai. 
In a release, Binance said that this means it will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers.
The license, issued under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, allows it to operate within Dubai’s ‘test-adapt-scale’ virtual asset market model as a base for expansion into the region. 
In addition to growing its exchange operations, Binance will anchor a blockchain technology hub in the Dubai World Trade Centre to seed new talent, it said. 
The move comes as no surprise. In December, the firm said it had signed a memorandum of understanding with the Dubai World Trade Centre authority to help it establish a crypto regulatory framework. Earlier this week, it was also granted regulatory approval in Bahrain. 
Last week, Dubai unveiled its new agency, V

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