Binance has achieved a milestone by becoming the first crypto exchange to receive an Operational MVP License from Dubai’s Virtual Assets Regulatory Authority (VARA). This license enables Binance to offer regulated virtual asset exchange services in Dubai, affirming its commitment to compliance and collaboration with local regulators.
The Operational MVP License was granted to Binance’s Dubai subsidiary, Binance FZE, and allows the exchange to offer services approved by VARA, including exchange and broker-dealer services. These services are initially available to institutional and qualified retail investors in Dubai.
The issuance of this license follows Binance’s successful attainment of a provisional MVP license in March 2022 and a preparatory MVP license in September 2022. VARA has now permitted Binance to operate two licensed activities: virtual asset exchange services and virtual asset broker-dealer services.
The progression…
