Binance Global Accounts in the UAE Transferred to its Platform in Dubai

Binance, the cryptocurrency platform, announced that the accounts of traders in the UAE will be transferred from Binance Global to Binance Free Zone, regulated by the Dubai Virtual Assets Regulatory Authority (VARA).

The platform obtained a Virtual Asset Services Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority for its local trading platform in Dubai, “Binance Free Zone.” In an update to its customers in the Emirates, the platform indicated that to meet the requirements for joining, all users residing in the Emirates will be contacted gradually, via email, to update their identity documentation information, by submitting specific documents by the deadline for identity verification on December 15. / December 2024.

The platform explained that affected users will receive continuous updates and correspondence about the process at different stages, until all UAE resident accounts are successfully transferred.

She confirmed that the transfer will not affect the current access to users’ accounts, and they can continue to use the products and services already available on Binance Global until December 15. After this date, users’ accounts will be transferred to Binance Free Zone, and their login information (email and password) and user ID number will remain the same.

The platform urged users to update their identity verification information as soon as possible, to avoid their accounts being restricted to making withdrawals only.