Less than a month after receiving a limited crypto asset license in Dubai, the world’s leading cryptocurrency exchange obtained an In-Principle Approval from the Financial Services Permission of Abu Dhabi Global Market.
The press release shared with CryptoPotato informed that the new licensing will allow Binance to operate as a broker-dealer for cryptocurrencies within the watchdog’s legal borders.
ADGM, which is the International Financial Center in the capital of the UAE, introduced “the world’s first comprehensive and robust virtual asset regulatory framework in 2018.” This aligns with the nation’s plans to become a cryptocurrency hub.
Binance already received a limited license in Dubai to operate as a cryptocurrency exchange in March this year but under certain conditions. Other digital asset exchanges, such as CryptoCom and FTX, followed suit as the latter even outlined plans to establish a regional HQ.
Speaking about the In-Principle Approval, the CEO of Abu Dhabi Gl