Binance In Discussion With UAE Regulators To Establish Headquarters In The Nation

Binance is allegedly having discussions with economic officials from Abu Dhabi Global Market, Dubai International Financial Centre, and Dubai Multi Commodities Centre.

The aforementioned development confirms the previously released statement of the CEO of Binance that they have planned to establish several headquarters. The exchange has discussed with United Arab Emirates regulators on their plans to open headquarters in the Gulf Arab country.

Besides this, the crypto exchange tagged Dubai Financial Services Authority’s Senior official Mark McGinness on a strategy for its headquarters. They did this with a mindset to get regulatory consent to kickstart the headquarters in the nation.

As per Abu Dhabi Global Market, all local and international entities looking to access opportunities in the area and its “comprehensive” digital currency regulatory framework is designed for crypto exchanges, custodians, intermediaries, and associated services. It already has a number of virtual currency entities and the ecosystem is mushrooming rapidly.

Apart from that, Binance CEO Changpeng Zhao recently released a statement where he mentioned that the exchange intends to establish headquarters around the UAE. Binance is stepping up on licensing and regulatory policies and plans to establish several headquarters.