The post Binance Secures VASP License in Dubai appeared first on Coinpedia Fintech News
Binance’s relation with controversy is not new and despite that the firm is dedicated towards their expansion goals. After much anticipation, Binance has finally secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), leading to a significant shift for its UAE users.
Binance’s Strategic Move in UAE
Binance announced that by December 15, 2024, all UAE resident accounts will migrate from Binance’s global platform to the locally regulated Binance FZE exchange, known as Binance Dubai.
As part of this transition, users are required to update their Know Your Customer (KYC) information. Binance will communicate with users via email to guide them through the KYC process, ensuring compliance with local regulations.
Binance Dubai, under the VASP license, will offer a comprehensive range of services including cryptocurrency exchang
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