Binance got License to Operate in Dubai

Dubai is a rich country and also one of the countries that try to make themselves a leader in anything they. I have never seen any news or article for Dubai to be anti-crypto and this can be taken as a sign that the country is in a neutral state but they can clear their stand anytime they like. These days it seems that Dubai is trying to adopt crypto and for this reason, they have given licenses to Binance and FTX exchange for crypto trading. Having a neutral stand is very good as long as we are waiting for the right time and it seems that Dubai has been doing the same.

Binance

Binance is a leading international crypto-exchange that operates in many countries and this new license of Dubai can be a great milestone for the country as well as exchange. FTX is the first exchange that got a license and Binance is the second name on the list. Probably there can be many more names on the list and since the crypto space is growing so is obvious that more exchanges will try to establish their operation in Dubai.

Cryptocurrency exchanges FTX and Binance have been licensed by Dubai’s Virtual Asset Regulatory Authority (VARA). The regulator was established last week when the first law to regulate crypto assets was adopted in Dubai.

Its good that more countries are allowing the exchanges to operate with proper licenses and this will also encourage more investors to be part of the crypto. Both exchanges that have got the license are the leader and they are capable of managing the transactions in scale and also dealing with huge new user onboarding. Since Dubai is a rich economy country so we can easily expect that more money will flow in the crypto world which will help to drive the value growth.

Binance

Like the US has a process to issue licenses and this is why the US is one of the countries where crypto is doing well and buying crypto is an easy process there. Coin base is a US-based exchange and even the first crypto exchange listed in the stock market. If this trend grows when crypto exchanges get themselves listed in the stock market then it's going to bring mass adoption to crypto.

As part of crypto such news where any country or any institution decide to enter in crypto of if they make it easy then I feel so good and I believe that we all should be happy. I see that exchanges like Coinbase, Binance, FTX, etc are expanding their global presence, and now since two exchanges are already there so it will not be a surprise if Coinbase also gets the license soon. If Coinbase has considered India to be one of its markets then its obvious they will not leave Dubai which is a rich country by the economy.

Thank you so much
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