Singapore-based Liminal won approval to operate as a regulated custodian, another sign of its expanding footprint in the APAC and MENA regions.
Dubai does for crypto what Silicon Valley did for tech: Gov't affairs firm CEO
NH Management’s Tao Xiao explained that VARA’s objective is not to hinder progress but to secure the market’s integrity.
Binance Secures Full Virtual-Asset Services Provider License in Dubai
The fourth and final stage of approval comes almost a year after the crypto exchange secured a third-stage license.
Crypto.com Obtains Full Dubai Operational License
Singapore-based crypto platform Crypto.com has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for its local entity, CRO DAX Middle East FZE.
Crypto Exchange Deribit’s Dubai-Based Unit Wins Conditional VASP License
Obtaining the full VARA spot and derivatives license is an important next step in our efforts to raise the overall quality & governance standards of our platform, exchange’s new CEO Luuk Strikers told CoinDesk.
Crypto Lender Nexo Secures First Regulatory Victory in Dubai
Nexo, a company offering digital asset services, has won initial approval as a licenced entity in Dubai from the region’s Virtual Assets Regulatory Authority (VARA), it announced Tuesday.
Digital Asset Investment Platform Fasset Wins Operational Licence in Dubai
Fasset, a digital asset investment platform, has won the licence to operate in Dubai as a Virtual Asset Service Provider (VASP), allowing it to serve institutional investors, qualified investors and retail investors.
Crypto Hedge Fund Nine Blocks Snags Dubai Digital Assets License
Head of Dubai Crypto Regulator to Quit to ‘Pursue Other Interests’
Henson Orser, the CEO of VARA, Dubai’s crypto regulator, is set to leave the job and will be replaced by a partner at PwC.
Crypto Custodian Hex Trust Obtains Full Dubai Operating License
This final approval allows the firm to offer digital asset custodial services to institutional clients and sophisticated investors in Dubai.
Crypto.com Acquires License In Dubai As Cronos (CRO) Price Slips
Crypto.com achieves yet another milestone with its recently acquired license from Dubai’s regulatory authority to offer services in the country by Dubai’s arm CRO DAX Middle East FZE.
Significance of Crypto.com Recent License
According to the announcement, Crypto.com Dubai’s entity acquired the coveted Virtual Assets Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This marks a major step for the firm as it aims to extend its services worldwide.
The recently acquired VASP license will enable the firm to completely satisfy selected conditions and localization requirements outlined by VARA. In addition, it will allow the firm to launch operations, upon receiving operational approval notice from the regulatory body.
Furthermore, it will enable the firm to offer regulated virtual asset service activities in the country. These include exchange services, broker-dealer services, management and investment services, and lending and borrowing services. These services are accessible to retail and institutional users in the market through the Crypto.com Exchange and Crypto.com App.
The announcement also saw the company highlighting Dubai as its regional hub for the Middle East and Africa. According to Crypto.com CEO Kris Marszalek, Dubai is one of the top markets for creating effective regulation for the crypto space.
“Dubai continues to show it is a leading market when designing effective regulation for the crypto space while still supporting adoption and innovation,” the CEO stated.
Since VARA released its specialized regulations for virtual assets in February 2023, Crypto.com has been working to be among the first virtual asset exchanges to operationalize its VASP Licence. Finally, the firm’s aim has been realized.
“It is an incredible honor to be one of the first crypto exchanges to be granted a Virtual Asset Service Provider Licence by VARA,” Kris stated.
The VASP license is one of the notable licenses acquired by the company this year. In March, Crypto.com also acquired an MVP Preparatory Licence from the Dubai regulatory authority.
Latest License Might Propel Cronos (CRO) Price
Over the past weeks, Cronos (CRO) has been seen as one of the best-performing coins. CRO experienced an impressive 57% price surge within the seven-day timeframe reaching the $0.1 mark.
The token outclassed some major cryptocurrencies in the top 100 ranking over the weekend. However, the crypto asset seems to have lost its momentum, as it fell from $0.1 to $0.088. According to CoinMarketCap, CRO is currently down by over 5% in the past 24 hours.
Related Reading: Snowfall Protocol (SNW), Shiba Inu (SHIB), and Cronos (CRO) – The Best Cheap Cryptos to Buy Now
So far, Crypto.com’s recent milestones have not had any current impact on CRO. Nonetheless, as the native token of Crypto.com, the license could spark larger adoption for CRO, which might help CRO regain its momentum.
Crypto.com Wins Digital Asset License in Dubai
Cryptocurrency exchange Crypto.com has been granted a licence to operate specified virtual asset service activities in Dubai.
Crypto.com granted Dubai crypto license
The license is pending operational approval and allows Crypto.com’s Dubai entity to offer exchange, broker-dealer, and lending and borrowing services.
3AC founders fined by Dubai regulator over OPNX exchange
OPNX CEO Leslie Lamb and executives Kyle Davies, Su Zhu and Mark Lamb were all issued a $58,000 fine for violating marketing regulations in the emirate.
Dubai crypto regulator suspends BitOasis crypto exchange license
BitOasis was the first crypto exchange to get an operational license in Dubai, which has now been suspended by the local regulator for not meeting key conditions in time.
FTX CEO fights to keep lawyers as calls for removal intensify
Numerous parties have objected to the retention of Sullivan & Cromwell as lead counsel to FTX, citing conflicts of interest and insufficient disclosures.
U.S. Trustee: FTX was the ‘fastest’ corporate failure in American history, calls for probe
The Department of Justice’s U.S. Trustee overseeing FTX’s bankruptcy case has moved for the court to appoint an independent examiner.
Crypto.com gets nod in Dubai and FTX launches in Japan
Crypto.com will have further requirements before its full license is granted in the “near-term” and FTX said the move would allow it to work “directly with Japanese regulators.”