Binance has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), marking a significant shift for its UAE users. By December 15, 2024, all UAE resident accounts will migrate to the locally regulated Binance FZE exchange. This transition requires users to update their Know Your Customer (KYC) information to comply with local regulations. Binance Dubai will offer a comprehensive range of services, including cryptocurrency exchange, broker-dealer services, and virtual asset management, supporting over 300 virtual assets and facilitating transactions in AED.
