🔥💥BNB price rises as Binance receives full regulatory license in Dubai
The #Binance Coin price increased by 5% at parity with Bitcoin, while most altcoins caught up.
Aside from the broader market trend, there are also tailwinds arising from the fact that the Binance Exchange has obtained a full regulatory license in Dubai.
If the Bitcoin price shows strength, the BNB can break the consolidation, and a decisive drop above $ 566.20 provides a good introduction.
Binance Coin (#BNB ) price strengthened on Thursday and rose to 5% at parity with the Bitcoin (BTC) price.
BNB jumps while Binance grows in Dubai
The BNB price benefited from the tailwinds of the bullish trend on the Binance Exchange's expansion commitment in the United Arab Emirates (UAE). Based on recent reports, the trading platform has received a legal license to operate in Dubai.
The license was secured through the Dubai subsidiary of the global cryptocurrency exchange Binance, called Binance FZE. Based on Binance's official statement, they have received a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA).
Although very important, it is not the Binance Exchange's first win in the region, as it comes after the July 2023 issuance of the Minimum Applicable Product (MVP) license. For lay people, this is a luxury that provides the opportunity to expand product access to the retail Sunday (MVP to VASP). Therefore, it contributes to the steps that the platform has already made to operate in the region.
