Binance Strengthens Mideast Presence With Dubai License

Cryptocurrency exchange Binance has received the license for its Dubai operations, Bloomberg reported.
The approval comes days after Bahrain approved Binance's operations, thus boosting its middle-east presence.
Binance will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers.
The report further noted that UAE is issuing federal licenses to virtual asset service providers in an effort to provide a regulated environment for crypto trading.
The country has issued a license to another major cryptocurrency exchange, FTX.