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 <p class="is-style-lead">Binance has received an MVP operational license from Dubai regulators, enabling it to serve institutional and qualified retail investors.&nbsp;</p> 
 <p>Binance FZE, a subsidiary of Binance, has obtained an <a rel="noopener noreferrer nofollow" title="operation" href="https://thebittimes.com/tag/operation.html">operation</a>al Minimum Viable Product (MVP) <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> from Dubai’s crypto regulator, the Virtual Asset Regulatory Authority (VARA), according to a blog post.</p> 
 <p>Earlier Binance got a provisional MVP <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> and a preparatory MVP <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> in May 2022 and September 2022 respectively.&nbsp;</p> 
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 <p>With the latest approval, Binance can provide exchange and broker-dealer services to Dubai residents, starting with institutional clients and qualified retail investors.&nbsp;</p> 
 <blockquote class="wp-block-quote"> 
  <p>“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.</p> <cite>Binance Dubai’s general manager Alexander Chehade</cite> 
 </blockquote> 
 <p>Rival crypto exchanges such as Crypto.com Bybit, and OKX have received an MVP preparatory <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> from Dubai’s VARA, while BitOasis, which earlier secured an MVP <a rel="noopener noreferrer nofollow" title="operation" href="https://thebittimes.com/tag/operation.html">operation</a>al approval like Binance, saw its <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> suspended by VARA for failing to meet post-licensing requirements.</p> 
 <p>Meanwhile, Binance’s latest approval from Duba regulators comes as the cryptocurrency exchange recently withdraw its services from certain markets. As previously reported by crypto.news<em>, </em>Binance withdrew its licensing application with German regulators and also pulled out of the Netherlands after a failed attempt to get registration from Dutch authorities.&nbsp;</p> 
 <p>Binance, is, however, looking to reenter Japan following the acquisition of local crypto exchange Sakura Exchange BitCoin, after an initial exit in 2018.&nbsp;</p> 
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Binance secures Dubai’s MVP operational license

TheBitTimes

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