Binance Becomes First Global Crypto Exchange with FSRA License in Abu Dhabi
- Binance has secured a full license from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi.
- This license enables Binance to operate within the Abu Dhabi Global Market (ADGM), a major financial hub.
- Binance will function through three entities, including Nest Services Limited and BCI Limited, ensuring compliance with regulatory standards.
- Richard Teng, co-CEO of Binance, highlighted the importance of this license for compliance and consumer protection.
- The ADGM is recognized for its stringent oversight and alignment with international best practices in digital asset regulation.
The licensing of Binance underlines its commitment to transparency and security while enhancing operational clarity for users and partners. This milestone not only reinforces Binance’s global standing but also sets a precedent for regulatory adherence in the cryptocurrency industry.
Obtaining the FSRA license marks a significant achievement for Binance as it becomes the first global crypto exchange authorized to operate within ADGM’s robust regulatory framework.(Source)
