Binance has received preliminary approval to operate in Abu Dhabi

Binance has now received in-principle permission from Abu Dhabi Global Market to operate as a broker-dealer for digital assets, including cryptocurrencies.

The world's most traded cryptocurrency exchange, Coinan, has received preliminary permission to operate in Abu Dhabi, its third regulatory approval in the Middle East after Bahrain and Dubai.

Binance has received initial permission from the Abu Dhabi Global Market (ADGM) to operate as a broker-dealer for digital assets, including cryptocurrencies. This is another step forward for the cryptocurrency exchange, which aspires to become a fully licensed company.

The ADGM functions as an international financial free zone within the capital city of the United Arab Emirates and has historically played an important role in the regulation and oversight of the financial services offered under its authority. In response to Cryptocurrency's efforts to obtain regulatory clearance globally, ADGM announced.