The world's largest blockchain and cryptocurrency exchange <a href="https://www.cryptoknowmics.com/news/binance-donates-2-5m-stablecoin-crypto-for-relief-efforts-in-ukraine/">Binance </a>received approval in principle from Abu Dhabi Global Market (ADGM) to operate as a digital asset broker-dealer. 

https://twitter.com/BenTodar/status/1513161999085101065
<h2>Financial Services Permission (FSP) of Binance Approved</h2>
In 2018, the international financial center of Abu Dhabi, ADGM introduced a robust virtual asset regulatory framework. ADGM is an established global business platform for virtual asset activities, with the objective to encourage the economic growth of <a href="https://www.cryptoknowmics.com/news/uae-to-issue-crypto-licenses-in-a-bid-to-become-global-hub/">UAE's</a> capital. 

Additionally, ADGM ensures the transparency and integrity of the marketplace. CEO of ADGM's Registration Authority, Dhaher bin Dhaher said, 
<blockquote>"We are pleased that Binance has been awarded an IPA in the ADGM and are excited to support them as they work towards establishing their foothold and presence in Abu Dhabi."</blockquote>
Discussing furthermore ADGM, Dhaher bin Dhaher states that the Market is the biggest regulated jurisdiction of virtual assets in the MENA region. He adds, 
<blockquote>"Binance's participation will add to its trusted ecosystem of virtual asset trading venues, global exchanges, and service providers."</blockquote>
<h2>Binance Expands In The Commercial Capital of UAE</h2>
In response to the approval, Binance's Head of the MENA region, Richard Teng remarked that the cryptocurrency exchange giant is actively involved in global regulators, like ADGM. The objective of Binance is to establish itself as a fully-regulated virtual asset service provider from ADGM's Financial Services Regulatory Authority (FSRA).

The motive behind the commitment is to uphold global standards and foster developments and sustainable growth in the digital asset space.

Binance Receives Approval As Digital Asset Broker-Dealer in Abu Dhabi

Binance received approval in principle from Abu Dhabi Global Market (ADGM) to operate virtual asset trading venues, global exchanges, and service providers.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Binance Receives Approval As Digital Asset Broker-Dealer in Abu Dhabi

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