Binance Strengthens Mideast Presence With Dubai License

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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.