Binance Receives Green Light to Operate in Abu Dhabi

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Crypto exchange Binance will start providing services to citizens living in the capital of the United Arab Emirates. According to the information published by the trading platform, it has received permission from the financial regulator of Abu Dhabi. In particular, it has received the status of the so-called “broker-dealer of digital assets.”

Abu Dhabi’s is already the third permission from financial regulators in the Middle East region that Binance has recently received. So, a few months earlier, the exchange started to operate in Bahrain and Dubai.

The ADGM is the Abu Dhabi Global Market, which has long served as one of the main financial regulators of the capital of the UAE. The ADGM, by the way, almost immediately commented on the issuance of a Binance license to conduct brokerage activities:

“The IPA (license to provide digital services) was issued to Binance after quite a long negotiation. We are very pleased that obtaining permission from the Abu Dhabi regulator for the crypto exchange was a top priority. And now, it has happened, Binance has become part of an internationally recognized and well-regulated financial center.”