UAE: Binance gets ADGM approval to operate as a broker-dealer

Binance, the world’s largest cryptocurrency exchange by trading volume, on Sunday said it has received in-principle approval from the Abu Dhabi Global Market (ADGM) to operate as a broker-dealer in virtual assets.

Dhaher bin Dhaher, CEO of the Registration Authority of ADGM, said Binance has been awarded an in-principle approval in the ADGM and they will support Binance to work towards establishing its foothold and presence in Abu Dhabi.

Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the Middle East and North Africa region, through its subsidiary Binance (AD) Limited.

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