Binance Gets Abu Dhabi Crypto Nod as Billionaire CEO Touts UAE

Binance Holdings Ltd. received in-principle approval from Abu Dhabi Global Market to operate as a broker-dealer in virtual assets.

The world’s largest cryptocurrency exchange by trading volume still needs to complete the application process, Richard Teng, the company’s head for the Middle East and North Africa and a former ADGM executive, told Bloomberg.

If the full licensing for Abu Dhabi -- the United Arab Emirates’ capital -- is successful, the exchange said it could then offer its virtual asset services to customers across the MENA region through a subsidiary, Binance (AD) Ltd. It marks a push by the company ...