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International Business Times

Business

Marvie Basilan

Dubai Hands Full Operating License To Binance, Allowing Retail And Qualified Institutional Offerings

Binance Dubai Changpeng Zhao VARA Crypto Nigeria Richard Teng CZ DOJ United States

Amid its legal woes in several countries, Binance has received a VASP license from Dubai.

KEY POINTS

Binance can now offer services to retailers as well as qualified institutional investors
VARA reportedly handed the license after CZ ceded his voting rights on Binance FZE
Binance's Teng said the report regarding CZ giving up his voting rights was 'pure speculation'

Cryptocurrency exchange behemoth Binance has secured a virtual asset service provider (VASP) license in Dubai, a key United Arab Emirates (UAE) city, the crypto firm announced Thursday.

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