Binance partners with Dubai World Trade Centre Authority

Binance partners with Dubai World Trade Centre Authority
фото показано с : invezz.com

2021-12-23 12:48

Binance, the biggest cryptocurrency exchange by trading volume, has inked a partnership agreement with Dubai World Trade Centre Authority. The DWTCA is working to set up an international virtual asset ecosystem, Reuters reported.

Dubai WTCA becomes crypto zone and regulator

On Monday, the DWTCA announced it would become a zone and regulator for cryptocurrencies and other virtual assets. The UAE is making efforts to create new business opportunities against the backdrop of severe regional competition. 

Start Trading

In addition, the DWTCA aims to create new economic sectors through a specialised zone for virtual assets, including digital exchanges, operators, and products. According to an official statement:

Rigorous standards for investor protection, anti-money laundering, combating the financing of terrorism, compliance and cross border deal flow tracing will be developed.

The world’s biggest cryptocurrency exchange issued a statement as well. It announced intentions to facilitate the development of virtual asset regulations in Dubai, adding:

The goal is to help crypto exchanges, or businesses that offer blockchain and DLT services, or a wide range of digital currencies and assets to become licensed in Dubai.

In October, another financial free zone, the DIFC (Dubai’s state-owned financial free zone and a major hub of finance in the Middle East) issued the first part of a regulatory framework for digital tokens.

The DWTCA had agreed on a framework in September, according to which it will be allowed to approve and issue licenses to carry out financial activities related to crypto.

Binance attacked by financial regulators worldwide

This year, Binance bore the brunt of the wrath of global financial regulators, with almost a dozen moving to sanction its operations. Some national watchdog banned it from performing certain activities, while others warned users that Binance did not have a license to operate in their jurisdictions. 

CEO Changpeng Zhao responded by reiterating he wanted to improve his exchange’s relations with regulators. He commented the partnership with Dubai as follows:

Through our leadership position and expertise, combined with the long-term vision of Dubai, we plan to develop a regulatory framework appropriate to fit the fast-moving and progressive nature of virtual assets.v

The post Binance partners with Dubai World Trade Centre Authority appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

LALA World (LALA) на Currencies.ru

$ 0 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: 9.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0004568 (-100%)

authority binance trade centre world dubai working

authority binance → Результатов: 60


Binance and Coinbase Apply for a License in Singapore, Total Applicants Halved from Last Year

Both Binance and Coinbase’s Singapore units are among 70 applicants for a license to provide cryptocurrency services in the country. According to the central bank Monetary Authority of Singapore’s (MAS) website, the number of firms operating with an exemption while their application is processed has now declined from 170 that last year applied for a […] The post Binance and Coinbase Apply for a License in Singapore, Total Applicants Halved from Last Year first appeared on BitcoinExchangeGuide.

2021-11-12 18:43


South Africa’s Financial Regulator Issues A Warning Against “Unauthorised Entity” Binance

The Financial Sector Conduct Authority (FSCA) of South Africa warned the public against the Binance Group on Friday. In the press release, the regulator issued a warning where it asked the public to be cautious and vigilant when dealing with the company as it is “not authorized” to give any financial services, advice, or business […] The post South Africa’s Financial Regulator Issues A Warning Against “Unauthorised Entity” Binance first appeared on BitcoinExchangeGuide.

2021-9-4 18:05


Singapore Regulator Says Binance Unlicensed, Alerts Investors

Singapore’s financial regulator has added Binance to the investor alert list, signifying that the crypto exchange is unlicensed to provide payment services in the nation. The Monetary Authority Of Singapore Adds Crypto Exchange Binance To The Investor Alert List As per a report from Bloomberg, the Monetary Authority of Singapore says Binance doesn’t have a […]

2021-9-3 22:00


Фото:

UK’s Financial Authorities Declares Binance Not Capable Of Being Supervised Properly – Poses A ‘Significant Risk’ To British Investors

The Financial Conduct Authority (FCA) has made an update to their consumer warning made against Binance on June 26. The update stated that Binance Markets Limited, a U. K. -based subsidiary of the global cryptocurrency exchange had “complied with all aspects of the requirements” previously placed on it.

2021-8-28 20:21


Фото:

London High Court Orders Binance to Identify Individuals Behind $2.6 Million Fetch.ai Hack

London High Court judge Pelling QC has ordered Binance crypto exchange to track hackers and help recover all the $2.6 million stolen on June 6 from Fetch.ai accounts on Binance. The case is part of the public cases involving the cryptocurrency exchange since being ordered by the Financial Conduct Authority (FCA) to cease providing any […]

2021-8-14 15:41


UK Regulators Prohibit Binance, What’s Ahead For The Crypto Exchange?

Binance has been the largest crypto exchange in the whole world. However, although not minding its reputation, the UK Financial Conduct Authority (FCA) has banned it from operating in the country. According to the regulatory body, Binance is no longer permitted to carry out regulated activities in the country from June 30, 2021. “BINANCE MARKETS […]

2021-6-29 01:00


Фото:

UK Financial Watchdog Clamps Down On World’s Largest Crypto Exchange, Binance

UK financial watchdog, the Financial Conduct Authority, has halted cryptocurrency exchange Binance from operating in the UK. In a statement titled “Consumer warning on Binance Markets Limited and the Binance Group” published on the organization’s official website on Saturday, the FCA stated that Binance Markets Limited “is not permitted to undertake any regulated activity in […]

2021-6-28 01:20


Binance запустит блокчейн, похожий на Ethereum

Криптовалютная биржа Binance запустит новую сеть, которая будет совместима с Ethereum. Блокчейн Binance Smart Chain (BSC) опирается на гибридный алгоритм достижения консенсуса Proof of Staked Authority (PoSA) и использует Binance Coin (BNB) в качестве нативного токена.

2020-4-20 14:17