Dubai boosts scrutiny of Binance, other crypto permit applicants

Officials at Dubai’s Virtual Assets Regulatory Authority have in recent weeks asked Binance to provide more information on its ownership structure, governance and auditing procedures, sources said.

DUBAI: Dubai is tightening scrutiny of crypto licence seekers in the wake of last year’s bankruptcy of digital-asset exchange FTX, requesting additional information from applicants like Binance, say sources.

Officials at Dubai’s Virtual Assets Regulatory Authority (Vara) have in recent weeks asked Binance to provide more information on its ownership structure, governance and auditing procedures, said the sources.