Binance Receives License to Offer More Crypto Services in Dubai

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 qualified retail and institutional investors in Dubai.

The approved services are crypto exchange services, conversion between cryptocurrencies and fiat currencies, transfer of crypto assets, custody and management, virtual token offering and trading services, and payments and remittance services.

VARA, established in March under the Dubai Virtual Asset Regulation Law, is responsible for licensing and regulating the crypto sector in the Emirate of Dubai and its free zone territories (excluding DIFC) under UAE law. Binance received a provisional license from VARA in March, which allowed the exchange to offer limited crypto services.

His Excellency Helal Saeed Almarri, Chairman of VARA, said:

We are pleased to have Binance licensed to operate within the VARA MVP programme.

“VARA looks forward to Binance being an active contributor, reinforcing Dubai’s commitment towards creating a next-gen secure ecosystem for this future economy,” he added.

Changpeng Zhao (CZ), founder and CEO of Binance, commented:

At Binance we welcome regulations that are globally consistent, enable responsible innovation, protect users, and give them choice.

Binance has been expanding its presence in Europe, with local entities in the MENA region and across Europe in Italy, France, and Spain.

What do you think about Binance receiving a license to offer more services in Dubai? Let us know in the comments section below.

from Bitcoin News https://ift.tt/eFnSoXQ

Comments

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought

breaking news this december get instant daily breaking news

Search This Blog