The approval has followed a prior Operational MVP license, enabling institutional services and crypto activities.
Changpeng Zhao was reportedly required to forfeit voting control as a condition of the license.
The skyline of Dubai
Binance has announced that it has received a full
virtual-asset services provider (VASP) license from Dubai's Virtual Assets
Regulatory Authority (VARA). This development follows almost a year after Binance
entered the third stage of Dubai's four-stage regulatory process.
Binance's Dubai Unit Expands Services
According to a VARA filing, Binance's local unit, Binance
FZE, secured an Operational MVP license in mid-2023. This initial license
enabled the exchange to cater to institutional and qualified investors,
offering broker-dealer services as well as virtual-asset derivatives trading.
Binance FZE's General Manager, Alex Chehade, emphasized the
significance of the full VASP license, stating that it "underlines Dubai's
position as a forward-thinking city, acknowledging and embracing the financial
potential that blockchain technology brings."
Richard Teng. Source: LinkedIn
"As we secure the esteemed full market VASP Licence, it
notably amplifies our unwavering commitment to advancing the financial
landscape through compliance and innovation," the CEO, Richard Teng, said in a
statement. "This achievement embodies our dedication to transparency,
regulatory compliance, and responsible growth in the dynamic digital assets
domain."
Reports indicate that one condition attached to the license
required Binance's Co-Founder and former CEO, Changpeng "CZ" Zhao, to
relinquish voting control within the local unit. CZ currently awaits sentencing
in the United States after settling charges with the Department of Justice in
November. His sentencing is scheduled for April 30.
Binance Implements Governance Structure with Seven-Member
Board
The Board
comprises key figures including the CEO, Teng, the Co-Founder, Heina Chen, Xin Wang of
Bayview Acquisition Corp, Arnaud Ventura of Gojo & Company, and the former
Binance employees, Lilai Wang and Jinkai. This move, spearheaded by Teng,
marks a step for Binance towards accountability, following leadership changes
prompted by legal challenges.
Binance has announced that it has received a full
virtual-asset services provider (VASP) license from Dubai's Virtual Assets
Regulatory Authority (VARA). This development follows almost a year after Binance
entered the third stage of Dubai's four-stage regulatory process.
Binance's Dubai Unit Expands Services
According to a VARA filing, Binance's local unit, Binance
FZE, secured an Operational MVP license in mid-2023. This initial license
enabled the exchange to cater to institutional and qualified investors,
offering broker-dealer services as well as virtual-asset derivatives trading.
Binance FZE's General Manager, Alex Chehade, emphasized the
significance of the full VASP license, stating that it "underlines Dubai's
position as a forward-thinking city, acknowledging and embracing the financial
potential that blockchain technology brings."
Richard Teng. Source: LinkedIn
"As we secure the esteemed full market VASP Licence, it
notably amplifies our unwavering commitment to advancing the financial
landscape through compliance and innovation," the CEO, Richard Teng, said in a
statement. "This achievement embodies our dedication to transparency,
regulatory compliance, and responsible growth in the dynamic digital assets
domain."
Reports indicate that one condition attached to the license
required Binance's Co-Founder and former CEO, Changpeng "CZ" Zhao, to
relinquish voting control within the local unit. CZ currently awaits sentencing
in the United States after settling charges with the Department of Justice in
November. His sentencing is scheduled for April 30.
Binance Implements Governance Structure with Seven-Member
Board
The Board
comprises key figures including the CEO, Teng, the Co-Founder, Heina Chen, Xin Wang of
Bayview Acquisition Corp, Arnaud Ventura of Gojo & Company, and the former
Binance employees, Lilai Wang and Jinkai. This move, spearheaded by Teng,
marks a step for Binance towards accountability, following leadership changes
prompted by legal challenges.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
WhiteBIT secures brokerage license in Georgia to launch regulated crypto derivatives
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
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#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
