Dubai’s Virtual Assets Regulatory Authority has permitted Animoca Brands, a Hong Kong-based company, to operate as a Virtual Asset Service Provider.
The authority has allowed the exception of the DIFC zone. Following the licence, the business will be in a position to provide broker-dealer and investment services to eligible institutional and individual investors in Dubai.
The certification will help Animoca’s Web3, AI and decentralised financial activities. Moreover, it will facilitate its expansion in the Middle East. Dubai keeps promoting itself as a center welcoming cryptocurrency. It has well-organised regulatory control.
The license was granted at a time when Dubai’s recently revised legislation limit cryptocurrencies that prioritise privacy and require more transparent disclosures for algorithmic stablecoins. The framework still promotes innovation despite stricter requirements.
By gaining regulatory certification, Animoca has joined a growing number of significant Web3 companies that have made compliance and enduring institutional relationships a top priority.
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