What happened — the licences and their scope On 8 December 2025 , Binance — the world’s largest cryptocurrency exchange by trading volume and users — announced that it had secured a full set of regulatory approvals from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the UAE’s international financial centre. ( adgm.com ) Under this authorisation, Binance.com — its global platform — will operate under a three-entity structure within ADGM, each licensed separately to mirror traditional financial market infrastructure. ( The Economic Times ) The three entities and their roles: Nest Exchange Limited (formerly “Nest Services Limited”) — licensed as a Recognised Investment Exchange (RIE). It will run Binance’s on-exchange trading: spot and derivatives operations via a Multilateral Trading Facility. ( adgm.com ) Nest Clearing and Custody Limited — licensed as a Recognised Clearing House (RCH) and authorised to provide custody and set...

Last Thursday morning, I wondered whether I needed to write a follow-up piece about Silvergate Bank. On Thursday evening, I wondered whether my main topic should instead be about ether potentially being a security. And then, obviously, some things happened. via CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data https://ift.tt/2JbdrpW
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