Regulation
Binance Gets Full Dubai Permit After Zhao Cedes Control of Unit
- Binance co-founder Zhao ceding voting rights in Dubai unit
- Full VASP permit would be a rare regulatory win for Binance
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Binance Holdings Ltd. received its long-sought full crypto license in Dubai after co-founder Changpeng “CZ” Zhao agreed to give up voting control in the local entity, according to people with knowledge of the matter.
The world’s biggest digital-asset exchange got a Virtual Asset Service Provider permit in the emirate, Chief Executive Officer Richard Teng confirmed in a Bloomberg Television interview on Thursday.