Binance, the world’s largest cryptocurrency exchange by trading volume, is hiring over 100 positions in the United Arab Emirates (UAE) to help frame Dubai’s upcoming virtual asset regulation. Binance Working Closely With Dubai Government After being licensed by Dubai’s new virtual assets regulator this month, Binance is now working closely with its local government to help in the shaping of Dubai’s new virtual assets’ regulations. Additionally, the firm is also helping the city’s financial free-zone develop a virtual asset ecosystem. “It is a very progressive framework and we are very happy to be part of that process, working very closely with the Dubai government. I wish more regulators globally adopt this approach that Dubai has – a public-private sector partnership,” Richard Teng, Binance’s MENA head, told Reuters. While Binance does not have a central headquarters, CEO and founder Changpeng Zhao said that he wants to establish a number of regional centres. “Definitely Dubai is a very important hub that we are looking at to consider different options going forward,” Teng said. Dubai Looks to Become the Global Crypto Capital In March, Dubai issued its first digital assets law and formed the Virtual Asset Regulatory Authority (VARA) to help develop Dubai and the UAE as regional and global destinations for the crypto market players. Earlier this month, it recently licensed Binance and FTX Europe to set up in Dubai. Bybit annou...
