Cryptocurrency in the United Arab Emirates: Binance obtains ADGM approval to operate as a broker – News

0
55

CLICK HERE AND LEARN HOW TO MAKE HUGE PROFITS IN A SHORT TIME WITH CRYPTO!!!

[embedded content]

Abu Dhabi’s global market is pioneering the introduction of solid virtual asset regulatory frameworks to support the growth of the global blockchain ecosystem.



Posted: Sunday, April 10, 2022, 1:07 p.m.

Binance, the world’s largest cryptocurrency exchange by trading volume, said on Sunday that it had received major approval from the Abu Dhabi Global Market (ADGM) to operate as a virtual asset broker.

ADGM introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018 and has since established itself as a global hub and a leading business platform for virtual asset activities for local, regional and international organizations. .

On March 16, the Virtual Assets Regulatory Authority (VAR) granted Binance a virtual asset license to conduct certain operations in the Emirates.

Dhaher bin Dhaher, CEO of ADGM Registration Authority, said Binance has received principle approval from ADGM and will support Binance in working to establish its presence and presence in Abu Dhabi.

“ADGM is the largest regulated jurisdiction of virtual assets in the Mena region and Binance’s involvement will add to its vibrant and trusted ecosystem of virtual asset trading sites, global exchanges and service providers,” he said. to say.

“Binance has been actively collaborating with global regulators, such as ADGM, as part of its ongoing commitment to maintaining global standards and collectively fostering the sustainable development and growth of the cryptographic ecosystem.

ALSO READ:

ADGM is pioneering the introduction of strong virtual asset regulatory frameworks to support the growth of the global blockchain ecosystem, ”said Richard Teng, Head of Mine at Binance.

Once the ADGM FSRA application has been successfully completed, Binance will be able to offer its services on virtual asset offerings to clients in the Middle East and North Africa region, through its Binance (AD) subsidiary. Limited.

-waheedabbas@khaleejtimes.com

Source link