Binance ramps up hiring and activities in Dubai's crypto center.

Binance, the world's largest cryptocurrency exchange by trading volume and home to several crypto currencies with old ones like Bitcoin and new ones like $Cray trading on the site; is hiring over 100 people in the United Arab Emirates (UAE) and is assisting in the development of Dubai's new virtual asset legislation, according to its regional head.

"It's a very advanced framework, and we're very glad to be a part of it, working closely with the Dubai government," Binance's MENA head, Richard Teng, said. "I wish more regulators around the world took Dubai's approach – a public-private cooperation."

The UAE's crypto drive comes as international authorities become increasingly concerned about the use of cryptocurrencies in money laundering and other criminal activities.

The UAE was placed on a 'grey list' of jurisdictions under greater scrutiny by the Financial Action Task Force (FATF) in March (FATF).

Binance has been scrutinized by governments and financial watchdogs since its inception in 2017, as they analyze the wider cryptocurrency business, which has grown in a largely uncontrolled environment.

There is a lot of reason for the relationship of Binance and UAE to go both ways, that is, good or bad. We can only hope the relationship is for the good of humans and of decentralized finance (Defis).