This is a general announcement. Products and services referred to here may not be available in your region
Fellow Binancians,
Binance is proud to have received a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for our local exchange in Dubai, Binance FZE. The full VASP licence signifies our unwavering commitment to compliance, innovation and user protection.
Account Transition to Binance FZE
There will be an account transition for all UAE residents from the Binance Global Exchange to the VARA-regulated Binance FZE exchange.
To meet onboarding requirements, all UAE resident users will gradually be contacted via email to update their KYC information by submitting certain documents by the KYC deadline (2024-12-15).
Note:
Affected users will receive continuous updates and communications regarding the process at different stages from now until all UAE resident accounts have been successfully transitioned.
The transition process will not affect users’ current account access and they can continue to use products and services already available on Binance’s Global Exchange until 2025-01-31. After this date, the user’s account will transition to Binance FZE, but the login credentials (email & password) and UID number will remain the same.
Users are reminded to update their KYC information at the earliest to avoid the restriction of their account to withdrawal only.
Next Steps for UAE Resident Users
Please visit the [Identification] page
Click [Start Now] to find out which documents are required to update your KYC information.
Promotion Period: 2024-06-24 23:59 (UTC) and 2024-12-30 23:59 (UTC).
All UAE resident users who update their KYC information before 2024-12-30 will be automatically entered into a Prize Draw to share $500,000 in BTC rewards, with the ultimate prize being 1 BTC! Winners will be selected through the BNB Smart Chain hash value on 2025-02-01 23:59 (UTC) and announced via email.
For any inquiries, users can contact the customer support team on the live chat 24/7 or read our [FAQ].
Binanze FZE Services and Products
Binance FZE is a local regulated entity with a full VASP licence from the Dubai Virtual Assets Regulatory Authority (VARA). Binance FZE offers Virtual Asset Activities: (i) Exchange Services, (ii) Broker-Dealer Services, (iii) Lending and Borrowing Services, and (iv) VA Management and Investment Services, while Binance Global Exchange’s services span worldwide.
As well as access to bank deposits and withdrawals in local fiat currency (AED) and more than 300+ virtual assets, UAE resident users can rest assured knowing that all products already available on the Binance Global Exchange will also be available on Binance FZE.
Terms & Conditions
Only users who update their KYC information by the end of the promotion period will be eligible for rewards.
To be considered an eligible participant, users must fulfil all the requirements during the promotion period (2024-06-24 23:59 UTC - 2024-12-30 23:59 UTC).
Rewards Distribution
Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
Binance reserves the right to cancel any reward(s) if it determines in its sole and absolute discretion that such user or winner has breached any applicable terms and conditions.
Binance reserves the right at any time in its sole and absolute discretion to amend these terms and conditions without prior notice, including but not limited to cancelling, extending, terminating or suspending these activities, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.
Additional promotion terms and conditions can be accessed here.
Thank you for your support!
Binance Team
2024-06-26
Note: This announcement was last updated on 2024-11-07 to update the dates of the KYC deadline from 2024-12-15 to 2025-01-31, extend the promotion end date from 2024-10-30 to 2024-12-30, and update the winners’ announcement from 2025-01-01 to 2025-02-01.
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
Find us on
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
