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Binance has received an MVP operational license from Dubai regulators, enabling it to serve institutional and qualified retail investors.&nbsp; 
Binance FZE, a subsidiary of Binance, has obtained an operational Minimum Viable Product (MVP) license from Dubai’s crypto regulator, the Virtual Asset Regulatory Authority (VARA), according to a <a href="https://www.binance.com/en/blog/ecosystem/binance-is-the-first-virtual-asset-exchange-to-receive-an-operational-mvp-license-in-dubai-7342057061995039467?ref=AZTKZ9XS&amp;utm_source=BinanceTwitter&amp;utm_medium=GlobalSocial&amp;utm_campaign=GlobalSocial" target="_blank" rel="noopener noreferrer nofollow">blog post</a>. 
Earlier Binance got a provisional MVP license and a preparatory MVP license in May 2022 and September 2022 respectively.&nbsp; 
 You might also like: <a href="https://crypto.news/binance-and-cz-file-motion-to-dismiss-cftcs-lawsuit/" rel="noopener noreferrer nofollow"> Binance and CZ file motion to dismiss CFTC’s lawsuit </a> 
With the latest approval, Binance can provide exchange and broker-dealer services to Dubai residents, starting with institutional clients and qualified retail investors.&nbsp; 
<blockquote class="wp-block-quote"> 
 “With this operation MVP license, all users onboarded through this platform can expect access to a trusted and regulated service that prioritizes security alongside compliance with highly specialized, tier-one virtual asset regulations under VARA. <cite>Binance Dubai’s general manager Alexander Chehade</cite> 
</blockquote> 
Rival crypto exchanges such as <a href="https://crypto.news/crypto-com-secures-mvp-approval-from-dubai-regulators/" rel="noopener noreferrer nofollow">Crypto.com</a> Bybit, and <a href="https://crypto.news/okx-middle-east-receives-mvp-preparatory-license-from-vara-in-dubai/" rel="noopener noreferrer nofollow">OKX</a> have received an MVP preparatory license from Dubai’s VARA, while BitOasis, which earlier <a href="https://blog.bitoasis.net/bitoasis-get-vara-operational-mvp-license/" target="_blank" rel="noopener noreferrer nofollow">secured</a> an MVP operational approval like Binance, saw its license <a href="https://crypto.news/dubai-withdraws-crypto-exchanges-license-for-non-compliance/" rel="noopener noreferrer nofollow">suspended</a> by VARA for failing to meet post-licensing requirements. 
Meanwhile, Binance’s latest approval from Duba regulators comes as the cryptocurrency exchange recently withdraw its services from certain markets. As previously reported by <a href="https://crypto.news/binance-licensing-germany-withdraws-application/" rel="noopener noreferrer nofollow">crypto.news</a>, Binance withdrew its licensing application with German regulators and also pulled out of the Netherlands after a <a href="https://crypto.news/binance-to-exit-netherlands-after-failing-to-obtain-registration/" rel="noopener noreferrer nofollow">failed attempt</a> to get registration from Dutch authorities.&nbsp; 
Binance, is, however, looking to <a href="https://crypto.news/binance-to-launch-japanese-crypto-services-in-august/" rel="noopener noreferrer nofollow">reenter</a> Japan following the acquisition of local crypto exchange Sakura Exchange BitCoin, after an initial exit in 2018.&nbsp; 
 Read more: <a href="https://crypto.news/binance-advises-dutch-customers-to-use-licensed-local-trading-partner-coinmerce/" rel="noopener noreferrer nofollow"> Binance advises Dutch customers to use licensed local trading partner, Coinmerce </a>

Binance secures Dubai’s MVP operational license

crypto.news

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