Binance runs its global exchange under Abu Dhabi’s regulator. Emirati police still detained two of its employees over financial crime inquiries, the New York Times reported.

All have been released. A third staff member, who leads the company’s Dubai arm, answered questions at a police station in July.

A Foothold Built on Licenses and State Money

The Emirates is not a side market for Binance. It is the base.

Abu Dhabi’s Financial Services Regulatory Authority granted the exchange three licenses on December 8. No other crypto exchange had won a global license under that framework. The permissions went live on January 5.

The money runs just as deep. State-backed fund MGX invested $2 billion in March 2025. It paid in USD1, a stablecoin from World Liberty Financial, a venture the Trump family part-owns.

The relationship even shapes policy. Binance has cited its Abu Dhabi licensing rules to explain why it now handles some foreign police requests differently.

Airport Stops and an Overnight Hold

Two workers were pulled aside at Emirati airports, people familiar with the inquiries said. One midlevel employee passed through Sharjah this month. Officers took him to a station and held him overnight.

What police are chasing is unclear. Binance told the Emirati government that its staff were swept into fraud cases centered on customers. None were tied to the offenses, the company said.

The link may be mundane. Some employees’ names sit on a corporate bank account Binance keeps in the country. That account processes customer deposits and withdrawals.

“A small number of our personnel were recently asked to provide standard statements to local authorities as part of routine inquiries relating to third-party fund flows… all who provided statements were promptly cleared and released,” A Binance spokesman, speaking to the New York Times.

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A Familiar Pattern for Binance Staff

Emirati authorities were already tracing money around the exchange. Dubai’s Virtual Assets Regulatory Authority fined an unlicensed local firm, Shelbit, on July 24. Reuters tracked about $4 billion through Shelbit, and roughly $676 million reached Binance.

Binance’s record invites that attention. The company pleaded guilty in the United States in November 2023 and paid $4.32 billion. Prosecutors found it had let more than $898 million in trades pass between US and Iranian users.

That deal placed an independent compliance monitor over the company for three years. The term still has months left to run.

Staff have been caught in national cases before. Compliance executive Tigran Gambaryan spent months held in Nigerian custody in 2024. US diplomatic pressure secured his release.

The detentions have rattled the workforce. Binance approached Emirati officials this month, seeking help and raising concerns about employee safety.

Whether the questioning stays limited to customer fraud will test how much protection those licenses actually buy.

Source: BeInCrypto