Legelata successfully advised Binance UAE with regard to operation in Armenia and possibility of involvement of Armenian users in the trade.
Binance UAE is one of the leading players of crypto related operations whose platform is accessible all over the world. It provides a wide diverse of services (loan, fiat trading, crypto-to-crypto trading and etc.) and uses BUSD, USDT and others.
Crypto operations are still not regulated in Armenia, although it is already widespread locally. The proposed legal regulations have not yet passed through the Parliament and the regulator, the Central Bank, also has not explicitly stated its possession. However, the recent developments (involvement of the notion of cryptocurrency in certain legal acts) show the intention to regulate this area.
Legelata’s team led by the Partner Alla Hakhnazaryan, assisted Binance UAE to plan its operations in a way that would comply with the current local Armenian legislation and would not create any issues in the future. This is opening new opportunities for tech companies and development of new business areas.
