CZ strategically decided to transfer his voting power in the local corporation.
Binance’s Dubai affiliate had already obtained an Operational MVP license.
By securing the Virtual Asset Service Provider (VASP) license in Dubai, Binance Holdings Ltd. has accomplished a major milestone. This accomplishment showcases Binance’s dedication to successfully negotiating the complex regulatory environment while relentlessly expanding its worldwide footprint.
To ensure compliance with legal requirements and to facilitate the effortless acquisition of the license, co-founder Changpeng Zhao (CZ) strategically decided to transfer his voting power in the local corporation, as part of the arrangement.
Major Milestone Achieved
Chief Executive Officer Richard Teng confirmed the issuance of the license in a recent interview with Bloomberg. Binance has strengthened its position as the world’s biggest crypto exchange, and Teng’s recognition of this progress emphasizes the significance
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