Cryptocurrency exchange Binance seeks a license to operate in Dubai. The company is in contact with the authorities.
Binance, the world’s largest cryptocurrency exchange by trading volume, is in talks with the Dubai World Trade Center free zone to obtain a license to operate in the region, according to Bloomberg’s report.
Binance signed an agreement with the Dubai World Trade Center Authority in December to make Dubai a virtual asset hub.
Dubai today passed its first law regulating virtual assets. Binance CEO Changpeng Zhao also praised Dubai.
“Regulatory clarity is very important. This new virtual asset law in Dubai is a big step forward”
According to Bloomberg, Binance has also received pre-approval from the Central Bank of Bahrain to provide crypto services.
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