{"id":208914,"date":"2021-12-21T21:30:46","date_gmt":"2021-12-21T21:30:46","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=208914"},"modified":"2021-12-27T08:57:14","modified_gmt":"2021-12-27T08:57:14","slug":"binance-agrees-to-help-dubai-develop-progressive-virtual-asset-regulations","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-agrees-to-help-dubai-develop-progressive-virtual-asset-regulations\/","title":{"rendered":"Binance agrees to help Dubai develop \u2018progressive virtual asset regulations\u2019"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cryptocurrency exchange giant Binance today <\/span><a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/46d81eb19a224cba807e078dc95aa886\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> that it has signed a Memorandum of Understanding with the Dubai World Trade Centre Authority (DWTCA) to \u201coutline the vision of accelerating the set-up of a new industry hub for global virtual assets.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWith the MoU, Binance will help advance Dubai\u2019s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation,\u201d the company explained.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&ref_src=twsrc%5Etfw\">#Binance<\/a> signs agreement with Dubai World Trade Centre Authority to establish an industry hub for global virtual assets.<a href=\"https:\/\/t.co\/XtR1qfM20w\">https:\/\/t.co\/XtR1qfM20w<\/a><\/p>\n<p>&mdash; Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1473216988482781187?ref_src=twsrc%5Etfw\">December 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The agreement comes just a day after the DWTCA had <\/span><a href=\"https:\/\/mediaoffice.ae\/en\/news\/2021\/December\/20-12\/dubai-news\"><span style=\"font-weight: 400;\">revealed its plans<\/span><\/a><span style=\"font-weight: 400;\"> to become a \u201ccomprehensive zone and regulator for virtual assets and crypto.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As part of this initiative, the DWTCA wants an \u201cattractive environment\u201d for the cryptocurrency sector by working in tandem with private companies and other \u201crelevant entities\u201d\u2014one of which was revealed to be Binance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the DWTCA plans to \u201cenforce rigorous standards\u201d in areas such as investor protection, anti-money laundering, and combating the financing of terrorism. To this end, the new crypto hub will focus on \u201ccreating a framework for innovative financial products, adopting new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies.\u201d<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cIn order to support this, Binance will participate in this knowledge-sharing ecosystem by sharing its experience in collaborating with global regulators to aid the development of progressive Virtual Asset regulations,\u201d Binance added.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Per the announcement, this should also help crypto exchanges and other blockchain-focused companies and projects to become officially licensed in Dubai.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yesterday, Binance CEO Changpeng Zhao was among the first to <\/span><a href=\"http:\/\/twitter.com\/cz_binance\/status\/1472862845742338049\"><span style=\"font-weight: 400;\">highlight<\/span><\/a><span style=\"font-weight: 400;\"> the DWTCA\u2019s new initiative on Twitter, and followed up by posting a photo of himself wearing a keffiyeh today.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">\ud83c\udde6\ud83c\uddea <a href=\"https:\/\/t.co\/QrgxaHKAp9\">pic.twitter.com\/QrgxaHKAp9<\/a><\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1473242285584400388?ref_src=twsrc%5Etfw\">December 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">As <\/span><i><span style=\"font-weight: 400;\">CryptoSlate<\/span><\/i><span style=\"font-weight: 400;\"> reported last week, Binance has also recently <\/span><a href=\"https:\/\/cryptoslate.com\/binance-partners-with-indonesias-largest-telecom-and-prepares-to-launch-a-new-exchange\/\"><span style=\"font-weight: 400;\">partnered with an investment arm<\/span><\/a><span style=\"font-weight: 400;\"> of Indonesia\u2019s largest telecommunication company Telkom to launch a new cryptocurrency exchange in the country.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange giant Binance today announced that it has signed a Memorandum of Understanding with the Dubai World Trade Centre Authority (DWTCA) to \u201coutline the vision of accelerating the set-up of a new industry hub for global virtual assets.\u201d \u201cWith the MoU, Binance will help advance Dubai\u2019s commitment to establishing a new international Virtual Asset [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":208937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,5789,11],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance agrees to help Dubai develop \u2018progressive virtual asset regulations\u2019<\/title>\n<meta name=\"description\" content=\"The Dubai World Trade Centre Authority sets out to become a \u201ccomprehensive zone and regulator for virtual assets and crypto.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-agrees-to-help-dubai-develop-progressive-virtual-asset-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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