Insider: CZ giving up voting control of Binance FZE is the final step to obtain Dubai VASP license

BlockBeats news, on April 19, Bloomberg quoted people familiar with the matter as saying that Binance recently obtained a comprehensive cryptocurrency license in Dubai, which is the result of the company's long-sought success. The condition is that Binance founder CZ agrees to give up voting control of the local entity. Binance CEO Richard Teng confirmed the news in an interview on Thursday. The register of the Dubai Virtual Asset Regulatory Authority shows that Binance's local subsidiary Binance FZE has held the so-called operating MVP license for providing broker-dealer and exchange services since mid-2023, which is a transitional stage before obtaining a VASP license. People familiar with the matter revealed that CZ's relinquishment of voting control over the Dubai subsidiary Binance FZE is the last step that Binance needs to take before obtaining a VASP license. Local officials hope to ensure that Dubai will not violate the agreement reached between Binance and US authorities.