After nearly a year since securing a third-stage license, Binance has attained the coveted full Virtual-Asset Services Provider (VASP) license in Dubai, marking the completion of the final stage of approval.

The significance of this milestone was emphasized by Binance FZE General Manager Alex Chehade, who highlighted that the full VASP license underscores Dubai's progressive stance on embracing blockchain technology's financial potential.

However, securing the license wasn't without its conditions. According to reports from Bloomberg, one requirement was for Binance's co-founder and former CEO, Changpeng "CZ" Zhao, to relinquish voting control over the local unit. CZ, currently in the U.S. awaiting sentencing following a settlement with the Department of Justice in November, is expected to be sentenced on April 30.

At the time of publication, neither Binance nor VARA had commented on these conditions. Nonetheless, Binance's successful acquisition of the full VASP license solidifies its presence in Dubai's thriving blockchain ecosystem, paving the way for expanded virtual asset services in the region.