Dubai is putting more regulatory pressure on crypto businesses like Binance, asking them to provide additional information for obtaining a crypto license, Bloomberg has learned, citing people familiar with the matter said.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the report, Dubai's crypto regulator Virtual Assets Regulatory Authority (VARA) has asked Binance to disclose more information about its ownership, governance and auditing procedures. Bloomberg's sources noted that VARA is requesting similar information from other crypto businesses seeking permits.
A spokesperson for Binance said the exchange had disclosed "all necessary answers to VARA on a proactive basis and in line with our regulatory and fiduciary responsibilities."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange