Binance Secures Three Licenses to Operate in Abu Dhabi Global Market
Binance's Regulatory Approval: Binance has received full authorization from the Financial Services Regulatory Authority of the Abu Dhabi Global Market to operate its global platform, Binance.com, under a regulatory framework, enhancing its compliance and governance standards.
Market Infrastructure Development: The approval allows Binance to conduct trading, custody, settlement, and off-exchange activities through three licensed entities, aligning its operations with traditional financial market infrastructure.
User Base and Trading Volume: Binance boasts over 300 million registered users and has processed more than $125 trillion in cumulative trading volume, indicating its significant presence in the crypto market.
Recent Market Performance: Following the news, Binance Coin (BNB) rose by 1.7%, while Bitcoin and Ethereum also saw increases, reflecting a rebound in the cryptocurrency market.
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