bitcoin
Bitcoin (BTC) $ 64,580.30
ethereum
Ethereum (ETH) $ 3,112.25
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 564.12
xrp
XRP (XRP) $ 0.599038
cardano
Cardano (ADA) $ 0.385264
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.486287
binance-usd
BUSD (BUSD) $ 0.997348
dogecoin
Dogecoin (DOGE) $ 0.121424
okb
OKB (OKB) $ 39.12
polkadot
Polkadot (DOT) $ 5.61
shiba-inu
Shiba Inu (SHIB) $ 0.000016
tron
TRON (TRX) $ 0.135241
uniswap
Uniswap (UNI) $ 7.13
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 64,525.29
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 68.32
staked-ether
Lido Staked Ether (STETH) $ 3,112.86
solana
Solana (SOL) $ 167.02
avalanche-2
Avalanche (AVAX) $ 26.37
chainlink
Chainlink (LINK) $ 12.56
cosmos
Cosmos Hub (ATOM) $ 5.73
the-open-network
Toncoin (TON) $ 6.49
ethereum-classic
Ethereum Classic (ETC) $ 21.52
leo-token
LEO Token (LEO) $ 5.83
filecoin
Filecoin (FIL) $ 4.09
bitcoin-cash
Bitcoin Cash (BCH) $ 350.95
monero
Monero (XMR) $ 157.66
bitcoin
Bitcoin (BTC) $ 64,580.30
ethereum
Ethereum (ETH) $ 3,112.25
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 564.12
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.599038
binance-usd
BUSD (BUSD) $ 0.997348
dogecoin
Dogecoin (DOGE) $ 0.121424
cardano
Cardano (ADA) $ 0.385264
solana
Solana (SOL) $ 167.02
matic-network
Polygon (MATIC) $ 0.486287
polkadot
Polkadot (DOT) $ 5.61
tron
TRON (TRX) $ 0.135241

UAE Users to Migrate to VARA-Licensed Platform

Must Read

Binance has introduced a major transition for its United Arab Emirates (UAE) customers. Following the receipt of a full Digital Asset Service Supplier (VASP) license from Dubai’s Digital Property Regulatory Authority (VARA), Binance will migrate all UAE resident accounts from its international platform to the domestically regulated Binance FZE alternate (Binance Dubai).

The transition course of, set to start at present (Wednesday), would require UAE residents to replace their Know Your Buyer (KYC) data by December 15, 2024. Customers can be contacted by way of electronic mail with directions on submitting the mandatory documentation.

Through the transition interval, UAE customers can proceed to entry their current Binance International accounts and companies. After December 15, accounts can be routinely moved to Binance Dubai, with login credentials and person IDs remaining unchanged.

Binance FZE will provide a variety of companies, together with alternate, broker-dealer, lending and borrowing, and digital asset administration and funding companies. The platform will assist over 300 digital belongings and supply entry to native fiat forex (AED) deposits and withdrawals.

Binance guides UAE customers to transition accounts to VARA-regulated Binance FZE

Crypto alternate Binance has introduced on its official web site that every one UAE residents will transition their accounts from the Binance International Change to the Binance FZE alternate, regulated by the Dubai…

— CoinNess International (@CoinnessGL) June 26, 2024

“Unsupported belongings can be liquidated by the KYC deadline earlier than eligible customers are migrated to the Binance Dubai regulated platform. The precise date of liquidation might differ from asset to asset as liquidation might happen close to the deadline,” Binance commented.

Customers with each Binance.com and Binance Dubai accounts might want to select which account to keep up, as Binance FZE won’t permit a number of accounts per person. Those that don’t full the KYC course of by the deadline could have their accounts restricted to withdrawal-only mode.

To incentivize early compliance, Binance is providing a promotion for customers who full their KYC updates earlier than October 30, 2024. Members can be entered right into a prize draw with a complete reward pool of $500,000 in Bitcoin, together with a grand prize of 1 BTC.

Binance Dubai Develop Providers

The motion described above is feasible due to the choice made in April, when Binance Dubai acquired a VASP license from VARA. This improvement comes almost a yr after Binance entered the third stage of Dubai’s four-stage regulatory course of.

As Finance Magnates reported in June final yr, Binance determined to deal with the Center East as a consequence of regulatory pressures in Western markets. As an illustration, Binance needed to deregister within the UK, and in addition depart the Netherlands and Cyprus.

Extra issues in Europe emerged at present with the implementation of laws regarding stablecoins as a part of the European MiCA initiative. As a consequence of these laws, Binance should limit entry to a variety of companies primarily based on “unauthorized stablecoins” and droop its copy buying and selling service.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Bitcoin miner Riot Platforms acquires rival Block Mining for $92.5m

Colorado-based Bitcoin mining firm Riot Platforms has acquired its Kentucky-based competitor Block Mining to extend its operational capability by...
- Advertisement -

More Articles Like This