Binance Continues to Grow Presence in MENA Region

The regulatory growth is a major feature in Binance’s 2022 goals as the exchange makes progress across the globe.

Binance Gets Another Approval

Binance confirmed that it received its In-Principle Approval (IPA) for a Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). This is the second significant approval for Binance in the region and continues the push into the Middle East-North African region by the world’s largest cryptocurrency exchange.

The deal––announced on April 10 in a press release––will see Binance adapt to the world’s first comprehensive and robust virtual asset regulatory framework, established by Abu Dhabi in 2018. Once the application is processed, Binance will be able to provide virtual asset offerings to users across the MENA region.

“We are pleased that Binance has been awarded an In-Principle Approval in the ADGM and are excited to support them as they work towards establishing their foothold and presence in Abu Dhabi, the capital of the UAE. ADGM is the largest regulated jurisdiction of virtual assets in MENA region and Binance’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers,” Dhaher bin Dhaher, CEO, Registration Authority of Abu Dhabi Global Market, was quoted in the press release.

Establishing a regulatory presence is a key part of Binance’s goals for 2022, and the exchange is finding favorable invitations across the world. Binance CEO Changpeng Zhao (CZ), will be in France at the Paris Blockchain Week Summit on April 13-14, as Binance seeks to make France the hub for its European expansion. Binance was also recently authorized, in March 2022, to work within Bahrain by the country’s central bank.

Take it straight from CZ himself… Binance is not getting shunned anywhere:

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