Binance sets sights on UAE as key operational hub
In light of recent enforcement actions in the United States, Binance is turning its attention to the United Arab Emirates (UAE) as a significant focus for its future operations. According to Alex Chehade, the general manager of Binance Dubai, the UAE has emerged as an attractive destination for crypto businesses due to its favorable stance on digital assets and clear regulatory framework. Chehade told Cointelegraph that the UAE’s senior leadership’s desire to establish the region as a web3 hub and diversify away from fossil fuels, with cryptocurrency playing a pivotal role in achieving this objective. Binance sees the UAE’s well-defined crypto regulations as a compelling factor for establishing operations in the country, especially considering the ongoing legal disputes the exchange faces with US regulators such as the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). Chehade emphasized that Binance chose the UAE be...