Questions regarding Transition of UAE Resident Customers of Binance.com to Binance Dubai

As we have received a VASP licence from VARA, we’re required to transition all UAE resident accounts from the Binance Global Exchange to Binance FZE (Dubai). In order to meet onboarding requirements, you will need to update your KYC information by submitting certain document(s).

No, your login credentials (Email & Password) and existing UID number will remain the same when your account is transitioned to Binance FZE.

No. Users will need to decide on which account they would like to keep.

If a user would like to keep their Binance Dubai account, they may move supported virtual assets from their global account to their Dubai account, and their global account will be put in withdrawal-only mode after the KYC deadline.

If a user would like to keep their global account, they will need to delete their Dubai account. Users will need to complete KYC on their global account as instructed, so that the account can qualify to be migrated to Binance Dubai.

You will need to update your KYC information as soon as possible, by the KYC deadline of 31 January 2025. All UAE resident users who update their KYC information by 30 December 2024 will be automatically into a Prize Draw to share $500,000 in BTC rewards, with the ultimate prize being 1 BTC.

Failure to complete the onboarding requirements before the KYC deadline will result in a restriction of your account to withdrawal only.

Yes. Even though users’ actions will be restricted to withdrawal-only mode, they can still access transaction records in [Transaction History].

Updating your KYC information is a mandatory regulatory compliance requirement to continue using our platform seamlessly. We strongly encourage you to complete the update before the KYC deadline to avoid any potential disruptions to your access to our products and services.

Onboarding onto Binance FZE will allow you to enjoy all the products already available on the Binance Global Exchange (subject to meeting relevant eligibility criteria), as well as deposits and withdrawals in local fiat currency (AED) and access to more than 300+ virtual assets.

Users can enter the Binance Dubai KYC registration flow by filling in ‘United Arab Emirates (UAE)’ under ‘Country of Residence(CoR)’ when they sign up. If they are traveling, they should still be entering their original CoR and not the holiday destination.

Binance FZE is a locally regulated entity with a full Virtual Assets Service Provider (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.

Binance FZE will offer the main products that are aligned with regulatory requirements, such as Spot, Derivatives, and much more. Additional products will be introduced over time as they receive the necessary approvals and become ready.

Please note that products such as Margin, Futures, and Options will be available to users subject to their eligibility.

Please check your email to see which document(s) were specifically outlined to you. You may need to submit proof of address within the UAE (bank statement or utility bill recommended from within the last three months or an internet/telephone/mobile phone bill or lease agreement from within the last three months) an ID (Emirates ID recommended or passport) or complete a liveness check.

For users with an existing Binance account, they will not be able to create another account.

Users will need to update their KYC details on their existing global account with ID documentation to prove that their Country of Residence is United Arab Emirates (UAE) so that their account can be migrated to Binance Dubai. Users will be informed closer to the KYC deadline (31 January 2025) about liquidation of unsupported tokens/products.

Please visit the [Identification] page and click [Start Now] to find out which document(s) we require to update your KYC information. If you need any help, don’t hesitate to contact our customer support team on the live chat 24/7.

Unsupported assets will be liquidated by the KYC deadline before eligible users are migrated to the Binance Dubai regulated platform. The exact date of liquidation may vary from asset to asset as liquidation may take place near the deadline.

During the KYC verification process, users will need to agree that any remaining unsupported assets will be liquidated into BTC or USDT after the KYC deadline. However, users will still have ample time to withdraw or liquidate their position(s) of those assets from the time of completion of KYC until the KYC deadline.

If you are a UAE resident and already have an existing account with Binance, you must update your KYC to prove that you are a UAE resident and qualify as a user under the VARA-regulated Binance Dubai platform. You will still have access to the global exchange until the end of the transition period. Once the transition period lapses, if your KYC update has not been completed, your account will be put into withdrawal-only mode and you will be restricted from using the platform.

After the KYC deadline (31 January 2025), users who do not remediate their KYC to qualify as a Binance Dubai user, will have their existing accounts be put in withdrawal-only mode and they will be restricted from using the platform until they remediate their KYC.

If you have selected UAE as your Country of Residence in the past, but you have immigrated to another country now, you can reset your KYC and submit an updated “Proof of Address” document to change your country of residence.

If you have multiple residencies, you need to choose one based on your current address and submit Proof of Address (POA) to verify.

You may refer to this page for a list of supported virtual assets on Binance Dubai.

As we approach closer to the transition deadline, we will communicate any further impacts or actions required by users throughout the transition period.

UAE Resident customers of Binance global platform will be notified to update their KYC information. The updated KYC onboarding requirement will not affect your current account access.

As we approach closer to transition deadline, we will communicate any further impact or actions required by users throughout the transition period.

After 31 January 2025, users’ accounts will transition to Binance Dubai, but login credentials (Email & Password) and UID number will remain the same.

Users who do not remediate their KYC to qualify as a Binance Dubai user will have their account be put in withdrawal-only mode and they will be restricted from using the Binance platform.

Don’t worry if you don’t have the document(s) at hand, we are giving you until 31 January 2025 to update your KYC information.

Starting 31 January 2025, we will begin transitioning accounts to Binance FZE in batches based on the products you use. You will receive a notification before your account is transitioned, as well as a confirmation once the transition is complete. If you were a selected winner in the Prize Draw, you will also be notified via email.