The world's largest cryptocurrency bank has been licensed to start operations in Dubai | News Hub

   Binance will be allowed to expand exchange products limited to investors and professional
financial Services providers.

   Dubai (News Hub Update) The world's largest cryptocurrency exchange company Binance has

been licensed to start operations in Dubai. Will be allowed to expand. According to the Gulf News

Agency, Dubai's Virtual Asset Regulatory Authority has granted Binance a virtual asset license.

After that, the company plans to do business in Dubai. According to NewsHub, Bahrain was the

First Gulf country to issue a license to the cryptocurrency exchange company Binance.

   Following this development, Dubai also decided to license Binance. According to NewsHub, after

Obtaining the license, Binance will be allowed to do some work in Dubai. Binance will only allow investors and professional financial services providers to expand their exchange products and services. It further said that Virtual Asset Regulatory Authority would be gradually monitored to open up access to the retail market.

   The company will also set up a blockchain technology center at the Dubai World Trade Center. Financial institutions around the world have hit the balance sheet, some have banned certain activities on the platform and others have warned consumers that it is not licensed to operate within its jurisdiction. The United Arab Emirates, the financial capital of the Gulf region, is pushing for a virtual asset sector to attract new forms of business as regional economic competition heats up.

   In this regard, Dubai last week set up its first virtual asset control agency. The Virtual Asset

The regulatory Authority is a regulated sector. According to Newshub, Binance announced in

December that the company was working with the Dubai World Trade Center to establish a

International virtual asset ecosystem in Dubai and help develop virtual asset regulations.

   In this regard, according to the Director-General of the Dubai World Trade Center Authority,

Binance will be able to conduct its regional business from Dubai in the newly announced regulatory

The ecosystem that an internationally applicable policy framework.