Alex Chehade, the business leader of Binance FZE, a subsidiary of Binance in Dubai, said that the advanced regulatory framework in the Middle East is the main attraction for startups and mature industry participants: the outstanding feature of the Middle East is the certainty and clarity of regulation. We have a regulatory agency VARA specifically for virtual assets in Dubai. We have ADGM and its virtual asset framework, and we have the Central Bank of Bahrain accepting cryptocurrencies. Chehade stated that Binance currently has about 600 employees in its operations department in Dubai and will continue to play a role in promoting the industry. He added that as a regulated exchange, Binance FZE has been operating in Dubai for a year and a half and is separated from other global businesses through strict custody and operations.
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