Dubai Issues Crypto.com Full VASP License
Dubai’s Virtual Assets Regulatory Authority has granted Crypto.com a Virtual Asset Service Provider license, granting the crypto exchange full authority to serve institutional investors in the emirate.
Crypto.com, an international operator, has become one of the first to offer crypto-fiat facilities in Dubai after meeting the provisional conditions of the Virtual Assets Regulatory Authority (VARA) in November last year.
The firm is expanding its presence across Asia and Europe, with crypto licenses secured in jurisdictions like South Korea, Spain, the Netherlands, and the U.K.
Dubai established its VARA in March 2022 to oversee the burgeoning digital asset ecosystem and support innovation without jeopardizing investor safety. VARA launched its regulatory regime in February last year, issuing 19 full digital asset licenses in January, with 72 additional initial approvals pending complete issuance.
(With inputs from Shikha Singh)
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