Crypto giant Binance receives initial nod from Abu Dhabi’s FSRA to operate as a broker-dealer in virtual assets – ArabianBusiness

Crypto giant Binance receives initial nod from Abu Dhabi’s FSRA to operate as a broker-dealer in virtual assets – ArabianBusiness

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, has received its in-principle approval (IPA) for a financial services permission (FSP) from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) to operate as a broker-dealer in virtual assets.

Applying for the FSP from the ADGM FSRA is part of its plans in establishing itself as a fully-regulated virtual asset service provider. 

ADGM, the international financial centre in the UAE capital, introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018, and has since established itself as a leading global hub and business platform for virtual asset activities for local, regional, and international organisations.