Binance secures a VASP license in Dubai after Changpeng Zhao relinquishes voting power.

Binance, the world's largest cryptocurrency exchange, has secured a pivotal regulatory license in Dubai after co-founder Changpeng Zhao gave up his voting power in Binance FZE, the local entity. The Virtual Asset Service Provider (VASP) license was awarded after Zhao's voting rights surrender was the final requirement set by the Virtual Assets Regulatory Authority (VARA) for the license approval. This win for Binance is a significant milestone in a series of regulatory challenges the company has faced over the past two years.

April 18, 2024
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