Dubai to Create Crypto Zone, Binance Joins Effort
The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World Trade Centre to Host and Regulate Crypto Space Authorities in the United Arab Emirates plan to establish a special zone at the Dubai World Trade Centre (DWTC) from which businesses dealing with digital assets will be able to offer their products and services. The government of Dubai announced that the DWTC will also play the role....
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Cryptocurrency Binance has received another license from Dubai’s crypto regulator. Binance can now provide more crypto-related services in Dubai. Binance’s New License in Dubai Cryptocurrency Binance announced Wednesday that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The announcement details that besides allowing Binance to “open a client money account with a domestic bank,” having an MVP license means: Binance can offer an approved range of virtual asset-related services to suitably....
Binance will assist crypto exchanges and businesses to become licensed in Dubai in cooperation with the local government. The world’s largest cryptocurrency trading platform, Binance, is among the first crypto exchanges to join a new crypto hub established by the Dubai World Trade Centre Authority (DWTCA).Binance officially announced it had signed a memorandum of understanding with the DWTCA the next day after the latter had officially announced the launch of a comprehensive zone for crypto in Dubai on Monday.As part of its membership in the DWTCA’s initiative, Binance will help the....
Another government-backed project in Dubai aims to set up an attractive environment for the crypto industry. The United Arab Emirates (UAE) continues to emerge as one of the world’s biggest cryptocurrency-friendly jurisdictions as the government of Dubai has a new initiative to support local crypto development and regulation.The Dubai World Trade Centre (DWTC), a government-owned event and exhibition venue in Dubai, will become a comprehensive zone and regulator of cryptocurrencies, products, operators and exchanges, DWTC officially announced Dec. 20. As part of the initiative, the DWTC....
Binance CEO Changpeng Zhao, popularly known as “CZ,” stated that the increasing ban on cryptocurrency advertising will have no effect on demand. In a recent interview, he discussed regulatory changes concerning crypto-advertisements on platforms such as Google and Facebook, Binance’s progress in Singapore, and the Dubai crypto-regulation framework. Binance’s CZ Dives In On Crypto Adverts […]
Dubai, a global hub for trade, wants to incorporate the blockchain into daily economic life. The country believes blockchain technology could put them on the cutting edge of simplified record-keeping, as well as the transportation of goods worldwide. Blockchain incorporation into the society there, which joins an across the board effort to place Dubai on the cutting edge of how cities are run, will exist alongside Dubai’s advanced transportation infrastructure and near-zero taxes. The world’s largest corporations, such as IBM, Microsoft and dozens of big banks, are exploring uses for the....