Questions tagged [dubais regulator vara]

Raffaele Fri Jun 07 2024 | 5 answers 807

Does Dubai allow Binance? This is a question that many crypto enthusiasts and investors may be asking given the increasing popularity of digital currencies. The answer, according to a recent Reuters report, is yes. Cryptocurrency exchange Binance announced on Thursday that it has obtained a licence from Dubai's regulator, VARA, which will enable the platform to cater to not only qualified and institutional investors, but also retail clients. This licence marks a significant milestone for Binance as it expands its operations in the region, offering more opportunities for crypto traders and investors in Dubai and potentially beyond. However, it's worth noting that even with this licence, Binance and other crypto exchanges still need to comply with strict regulations and guidelines set by VARA and other relevant authorities. So, while Dubai does allow Binance, investors should still exercise caution and ensure they understand the risks involved in trading cryptocurrencies.