Legelata advised the UAE Binance on the possibility of attracting Armenian users in Armenia and trade.
Binance is one of the leading crypto players in the UAE with a platform available worldwide. It provides a wide range of services (loans, fiat trading, crypto-crypto trading, etc.) and uses BUST, YUST and more. Cryptocurrency transactions in Armenia are not regulated yet, although this is already widespread. The proposed legal norms have not yet passed through Parliament, and the regulatory body, the Central Bank, has also not clearly announced its existence. However, recent events (including the concept of cryptocurrency in some legal acts) show that there are intentions to regulate this sector.
The Legelata's team led by partner Alla Akhnazaryan helped Binance UAE to plan its activities in such a way that it complies with the current legislation of Armenia and has no problems in the future. This opens up new opportunities for the development of technology companies and new business sectors.