Binance Secures Full FSRA Authorization in Abu Dhabi, BNB Surges
- Binance received full authorization from the Financial Services Regulatory Authority (FSRA) of ADGM on December 8.
- This makes Binance the first crypto exchange to secure comprehensive regulatory approval under Abu Dhabi Global Market (ADGM).
- The global license allows Binance to offer regulated trading, custody, and settlement services through three licensed entities.
- Following the announcement, BNB price increased by over 1%, reaching $901.73 with a trading volume rise of nearly 25%.
- BNB futures open interest rose by almost 0.90% to $1.40 billion within a day.
This milestone enhances Binance’s compliance and governance standards globally, reflecting significant progress in regulatory acceptance for cryptocurrency exchanges.
With BNB climbing over $901 following this news, the exchange’s operations are now under stringent supervision by the FSRA, marking a pivotal moment for Binance. (Source)
