Dubai is tightening its scrutiny of cryptocurrency license applicants, requiring applicants like Binance to provide more information

According to ChainCatcher, citing informed sources from Bloomberg, in the weeks following the bankruptcy of the cryptocurrency exchange FTX last year, officials from the Dubai Virtual Assets Regulatory Authority (VARA) have recently requested Binance to provide more information about its ownership structure, governance, and audit procedures. The sources spoke on the condition of anonymity to discuss private deliberations. Three of the informed sources stated that VARA is asking all international companies seeking licenses to provide similar information. (Source link)