regulatory approval to leading cryptocurrency exchange Binance to offer its crypto-services to professional clients.
The exchange received a Financial Services Permission from the Financial Services Regulatory Authority in the Abu Dhabi Global Market . “We look forward to supporting Binance’s operations and R&D in ADGM to develop solutions for the Web3.0 economy,” said Ahmed Jasim Al Zaabi, Chairman of ADGM.“Working with the ADGM and FSRA has been a highly collaborative process that underscores the value of cooperation between our industry and the public sector.”
Binance received its In-Principle Approval from the ADGM regulator to operate as a broker-dealer in virtual assets in April 2022.Founded in 2017, Binance is today the world’s cryptocurrency exchange. Besides other parts of the world, the Middle East remains an area of interest for the exchange. In addition to Europe and Asia, the exchange has been looking to expand in the Middle East too.a crypto-asset service provider license from the Central Bank of Bahrain . This was the exchange’s first license as a crypto-asset provider in The Cooperation Council for the Arab States of the Gulf , the statement mentioned.
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