Binance Registered a Crypto Broker-dealer in Dubai

Binance has achieved another step in its efforts to reinforce regulatory ties with the United Arab Emirates.

On July 31, the company announced that its subsidiary in Dubai, Binance FZE, has been approved for an operational minimum viable product (MVP) license by VARA, the Virtual Asset Regulatory Authority.

The license covers a range of services for institutional and qualified retail investors in Dubai, including cryptocurrency exchange and virtual asset broker-dealer services.

It also ensures compliance with the intergovernmental Financial Action Task Force (FATF), providing investors with essential protection and market assurance.

Additionally, Binance affirmed its commitment to the completion of Know Your Customer requirements and safe customer migration in a regulated environment.

This regulatory milestone follows the preparatory MVP license issued by VARA in September 2022 and a provisional MVP license issued in March 2022.