Stephanie Douse 
The Abu Dhabi Global Market (ADGM) has given Binance, the world’s largest cryptocurrency exchange, in-principle approval to operate as a broker-dealer in virtual assets in the UAE capital.
The cryptocurrency exchange Platform stated in a statement on Sunday that after completing its application procedure, it will be able to offer its services across the Middle East and North Africa region through its subsidiary Binance (AD) Limited.
“ADGM is the largest regulated jurisdiction of virtual assets in the Mena region and the company’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges, and service providers,” Dhaher bin Dhaher, chief executive of the Registration Authority at ADGM, said.
The action comes about a month after the exchange was granted a virtual asset license to operate in Dubai, following the emirate’s announcement of clear policies to manage growing technology industries like cryptocurrencies in order to protect investors.