Approved: Binance receives crypto license in Abu Dhabi during Ramadan.
ADGM serves as an international financial free zone within the capital of the United Arab Emirates, which historically has played an important role in regulatory and supervisory oversight of the financial services provided within its jurisdiction. Reciprocating Binance’s efforts to score regulatory licenses across the globe, ADGM stated:
The ADGM also shared its intent to provide similar regulatory approvals for local as well as global crypto companies to further position Abu Dhabi as the “fast-growing virtual assets hub and digital economy.” Apart from Binance, prominent crypto exchange FTX has previously been awarded operational licenses in Dubai, the second biggest city in the UAE after Abu Dhabi.On Mar. 22, ADGM published a consultation paper, which proposed that ADGM-licensed companies will be allowed to facilitate NFT trading in the jurisdiction.
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