Dubai’s New Virtual Asset Regulator Licenses Crypto Exchanges Binance, FTX
Dubai’s Virtual Asset Regulatory Authority has licensed two cryptocurrency exchanges: Binance and FTX. The regulator was formed last week when Dubai approved its first law to regulate crypto assets. Dubai Licenses Binance and FTX Cryptocurrency exchanges FTX and Binance have been licensed by Dubai’s Virtual Asset Regulatory Authority (VARA). The regulator was established last week when the first law to regulate crypto assets was adopted in Dubai. Binance announced Wednesday: We have been granted a virtual asset license from Dubai’s Virtual Asset Regulatory Authority....
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In July, exchanges flocked to get approvals under Dubai’s Virtual Asset Regulatory Authority to expand their operations within the region. Dubai has positioned itself as one of the most crypto-friendly cities, having established a new regulator to cement the United Arab Emirates’ position in the crypto space. Following the move, crypto exchanges began to flock to the region, securing the newly formed regulator's approval to operate within the region. In March, Dubai’s authorities announced a new law on crypto assets and established a new regulating body called the Dubai Virtual Asset....
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....
Binance has reportedly halted services in Israel after the cryptocurrency exchange was approached by the country’s financial regulator inquiring about its activities and the licenses under which it operates. A growing number of regulators have been scrutinizing Binance for operating without a license in their jurisdictions.
Binance Halts Crypto Services in Israel
Israel’s Capital Market, Insurance, and Savings Authority has reportedly approached Binance regarding the crypto exchange’s activities in the country.
The authority, which is responsible....
Hong Kong’s Securities and Futures Commission (SFC) has announced plans to issue more licenses for crypto asset exchanges by the end of 2024. This decision comes after a five-month evaluation period, during which only three platforms received full licenses and 11 held provisional licenses, raising initial concerns about the possibility of further approvals. Related Reading: […]
Huobi cryptocurrency exchange is expanding its global footprint by winning its first-ever licenses in Dubai and New Zealand. Major cryptocurrency trading platform Huobi continues expanding its global presence by securing new licenses in New Zealand and the United Arab Emirates.Huobi Group on June 17 obtained the Innovation License under the Dubai International Financial Centre (DIFC), securing the company’s first-ever license there.The DIFC license is not a trading license but rather authorizes Huobi to incentivize technology startups to set up operations in Dubai, Huobi Group chief....