Binance cryptocurrency exchange will soon sign a memorandum of understanding (MoU) with the government of Dubai for crypto-related activities, sources with knowledge of the matter said.
<h2><strong>Binance to Sign MoU With Dubai Government</strong></h2>
A Binance spokesperson told <a href="https://www.businesstimes.com.sg/garage/binance-in-tie-up-with-dubai-government-as-questions-over-headquarters-linger-sources" target="_blank" rel="nofollow noopener">Business Times</a> the company’s having discussions with governments and key stakeholders in various markets. On setting up headquarters, the company declined to comment adding that it would release official statements to inform about developments when appropriate.

Dubai could be a candidate for the company’s global headquarters as the exchange has been strengthening ties with the United Arab Emirates.

CEO <a href="https://www.cryptoknowmics.com/news/binance-us-targets-ipo-listing-in-three-years-changpeng-zhao/">Changpeng Zhao</a> also recently met with heads of the Dubai Blockchain Centre and the Dubai Police’s virtual assets crime section. Earlier last month, Zhao said that he’d bought his first-ever home in Dubai to show a commitment to the jurisdiction he described as “very pro-crypto,” along with France.
<h2><strong>Withdrawing Application for Crypto License in Singapore</strong></h2>
Recently, Binance Asia Service, the company’s Singapore entity, withdrew its application for a cryptocurrency exchange license in the city and is set to close operations thereby on February 13, 2022.
<blockquote><em>“We always put our users first, so our decision to close Binance.sg was not taken lightly,” said Richard Teng, chief executive officer of Binance’s Singapore entity. “I am grateful to the Monetary Authority of Singapore for its ongoing assistance to Binance Asia Services and we look forward to future opportunities to work together.”  </em></blockquote>
CEO Chanpeng Zhao who holds Canadian citizenship has been based in <a href="https://www.cryptoknowmics.com/news/binance-drops-application-for-a-permit-to-administer-cryptocurrency-exchange-in-singapore/">Singapore</a> for the past two years. On setting up a permanent base, Zhao has given mixed signals. Instead, said that places in Europe and the Middle East offered pro-crypto alternatives along with Singapore.

Founded in China in 2017, Binance Holdings Ltd. hasn’t set up a global headquarter yet but has incorporated firms in locations where Binance operates.

Binance to Sign MoU With Dubai Government on Crypto-Related Activities

Binance cryptocurrency exchange will soon sign a memorandum of understanding with the government of Dubai for crypto-related activities.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Binance to Sign MoU With Dubai Government on Crypto-Related Activities

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