Abu Dhabi regulators have given Binance a preliminary green light, allowing it to expand in the Middle East.

The company said Sunday it was given approval “in principle” by the Financial Services Regulatory Authority of Abu Dhabi Global Market to operate as a broker-dealer in digital assets. This is the first step in becoming a fully-regulated virtual asset provider in Abu Dhabi, according to the company.

It’s the second city Binance has secured approval from — the company received a crypto license in Dubai last month. Binance also received approval from Bahrain’s central banks to make this move.

After being rejected elsewhere, Binance decided to enter the Middle East.

Regulators in the U.K. placed restrictions on the company, preventing it from engaging in any regulated activity. It was told by Singapore’s central bank that the firm may have violated local payment laws and it had to be re-routed.

In response to a tweet from CNBC, Binance CEO Changpeng Zhao said the company is “not shunned elsewhere” and that there’s “more to come.”

Binance’s inability to adhere to local laws was a hallmark of the company. The chief of Binance took pride in not having an official headquarters until recent. Binance, however, has said that it changed its mind in the face of global regulators. wants to become a regulated business. The firm is currently considering where it should establish its main office.

The UAE is a popular destination for crypto businesses, like Crypto.com, FTX and FTX. But the region is opening its doors to the loosely regulated world of crypto at an awkward time — the UAE was recently placed on a “gray listFinancial Action Task Force, an international money laundering watchdog.