Binance, a leading cryptocurrency platform, has recently announced that it will transfer its traders’ accounts in the UAE from Binance Global to Binance Free Zone, which is regulated by the Dubai Virtual Assets Regulatory Authority (VARA). The platform received a Virtual Asset Services Provider (VASP) license for its local trading platform in Dubai, called “Binance Free Zone”. In order to comply with the requirements for this transfer, all users residing in the Emirates will be contacted gradually via email to update their identity documentation information by submitting specific documents before the deadline for identity verification on December 15, 2024.
Affected users will receive continuous updates and correspondence throughout the process until all UAE resident accounts are successfully transferred. The transfer will not affect users’ current access to their accounts, and they can continue using the products and services available on Binance Global until December 15. After this date, accounts will be transferred to Binance Free Zone, with login information remaining the same.
It is important for users to update their identity verification information promptly to prevent their accounts from being restricted to making withdrawals only.
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