Binance Obtains In-Principle Approval From the Abu Dhabi Global Market

The world’s largest cryptocurrency exchange received an In-Principle approval from Abu Dhabi Global Market less than a month after it was granted a limited crypto asset licence in Dubai.

According to CryptoPotato, the new licensing will allow Binance, a broker-dealer in cryptocurrencies, to operate within the legal boundaries of the watchdog. Dhaher bin Dhaher from Abu Dhabi Global Market said that he was pleased with Binance’s approval, and is eager to help the company expand its presence in Abu Dhabi.

He concluded that ADGM is the largest regulated jurisdiction for virtual assets in the MENA region. Binance’s participation to it will enhance its vibrant and trusted ecosystem, which includes global exchanges and virtual asset trading venues.

Richard Teng, Head MENA for Binance stated that his company has made a lot of effort to work with global regulators as part of its ongoing commitment “to uphold global standards, collectively foster the development and sustainable growth of crypto ecosystem.”
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