Following the issuing of its provisional license in March 2022, Binance, the top worldwide supplier of blockchain services, has been granted the Minimal Viable Product (MVP) license by Dubai’s Virtual Asset Regulatory Authority (VARA). The MVP license allows Binance to operate inside Dubai’s internationally acclaimed legal framework for virtual asset service providers, providing a range of virtual asset-related services to appropriately qualified institutional and retail investors (VASPs). Binance Secures MVP Licence Binance will serve a customer that VARA has pre-approved and who may now take advantage of the local banking channels made available by this pioneering regulatory license. Trading on a regulated platform under the direction of VARA in Dubai will provide users with higher levels of consumer protection. Binance can now create a client money account with a domestic bank and offer services to qualifying consumers thanks to the move from a Provisional License granted earlier this year to an MVP Licence. Changpeng Zhao (CZ), founder and CEO of Binance, commented: “At Binance, we welcome globally consistent regulations, enable responsible innovation, protect users, and give them a choice. Dubai Virtual Asset Regulation Statute Under the Dubai Virtual Asset Regulation Statute, the first law of its type to regulate virtual assets, VARA was founded in March 2022. This most recent registration recognizes the compliance and s...
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