Binance gets Full Crypto Dubai License Report
World’s beggest Crypto Exchange Binance received a long-awaited regulatory license in Dubai.
Obtaining the complete regulatory license could potentially shift the situation for Binance, a company that has faced significant regulatory scrutiny for a minimum of two years.
In November 2023, Binance reached a $4.3 billion settlement with U.S. authorities to resolve federal allegations regarding insufficient anti-money laundering (AML) measures, breaching the Bank Secrecy Act.
As part of the agreement, Binance co-founder Zhao admitted guilt to one felony charge, specifically for inadequate maintenance of AML protocols, and stepped down. Zhao’s sentencing is scheduled for April 30, with a potential maximum prison term of 18 months.
