{"id":82394,"date":"2023-07-31T12:00:21","date_gmt":"2023-07-31T09:00:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82394"},"modified":"2025-09-12T04:46:12","modified_gmt":"2025-09-12T01:46:12","slug":"binance-wins-licence-to-operate-as-a-crypto-exchange-in-dubai","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-wins-licence-to-operate-as-a-crypto-exchange-in-dubai\/","title":{"rendered":"Binance wins licence to operate as a crypto exchange in Dubai"},"content":{"rendered":"<p>Binance&#8217;s subsidiary \u2014 Binance FZE \u2014 <a href=\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/binance-is-the-first-virtual-asset-exchange-to-receive-an-operational-mvp-license-in-dubai-7342057061995039467\">became the holder<\/a> of a basic operational licence to provide digital asset-related services to institutional and qualified retail investors in Dubai.<\/p>\n<p>In March 2022 the organisation<a href=\"https:\/\/forklog.com\/en\/news\/binance-secures-licence-in-dubai\"> received<\/a> a temporary licence, and in September of the same year \u2014 a provisional licence from the local regulator <span data-descr=\"Virtual Asset Regulation Authority\" class=\"old_tooltip\">VARA<\/span>. Binance FZE became the first firm with such status, according to the press release.<\/p>\n<p>The company will be able to offer broker-dealer services and cryptocurrency trading. The licence also allows converting fiat currencies to digital assets and back, subject to the requirements of <span data-descr=\"Financial Action Task Force\" class=\"old_tooltip\">FATF<\/span>.<\/p>\n<p>Platform clients gained access to authorised services with the understanding that they are protected under market-guarantee standards developed specifically for the virtual asset sector.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Our priority is to run the first fully regulated and FATF-compliant exchange in Dubai with prospects for scaling globally,&#8221;<\/em> said Richard Teng, head of regional markets at Binance.<\/p>\n<\/blockquote>\n<p>On June 5 the U.S. Securities and Exchange Commission <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">filed a lawsuit<\/a> against Binance and its CEO Changpeng Zhao. Against this backdrop, regulatory pressure on the company in Europe intensified.<\/p>\n<p>Binance withdrew applications for licences <a href=\"https:\/\/forklog.com\/en\/news\/binances-uk-arm-deregisters-with-the-fca\">in the United Kingdom<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/binance-withdraws-german-license-application\">in Germany<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/media-binance-withdraws-license-application-in-austria\">in Austria<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/binance-seeks-to-withdraw-its-cyprus-registration\">in Cyprus<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/binance-to-exit-the-netherlands\">announced its exit<\/a> from the Netherlands. The Belgian Financial Services and Markets Authority ordered the exchange <a href=\"https:\/\/forklog.com\/en\/news\/belgium-orders-binance-to-cease-activities-in-the-country\">to cease all activity<\/a>.<\/p>\n<p>Earlier, in April, the Australian regulator <a href=\"https:\/\/forklog.com\/en\/news\/australian-regulator-cancels-binance-australia-derivatives-license\">revoked<\/a> the licence of the local subsidiary. In July, officials <a href=\"https:\/\/forklog.com\/en\/news\/australian-regulator-conducts-searches-at-binance-australia-office\">conducted searches<\/a> at the Binance Australia office as part of an analysis of derivative-related activity.<\/p>\n<p>There is also a <a href=\"https:\/\/forklog.com\/en\/news\/french-authorities-announce-probe-into-binance\">French authorities&#8217; investigation<\/a> into the exchange. Officials are examining alleged illicit provision of cryptocurrency services and non-compliance with anti-money-laundering obligations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance&#8217;s subsidiary Binance FZE became the holder of a basic operational licence to provide digital asset-related services in Dubai.<\/p>\n","protected":false},"author":1,"featured_media":82395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,272,36,42],"class_list":["post-82394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-dubai","tag-regulation","tag-uae"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82394"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82394\/revisions"}],"predecessor-version":[{"id":82396,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82394\/revisions\/82396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82395"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}