Dubai’s Virtual Assets Regulatory Authority (VARA) has implemented stricter regulations for crypto companies to enhance investor protection and ensure transparency. The new rules require firms to include risk warnings in marketing materials, obtain necessary licenses, and adhere to compliance standards. These measures aim to inform investors about the risks and volatility of cryptocurrencies, while fostering…
Read more
PRESS RELEASE. [Singapore, 2024] – The much-anticipated VC Founders Summit is set to take place on September 21st, bringing together venture capitalists, industry leaders, and innovators to shape the future of investment and entrepreneurship. As a dynamic side event of the renowned Token2049 conference, and coinciding with the excitement of Singapore Formula One Week, this…
Read more
Standard Chartered has launched a digital asset custody service in the United Arab Emirates (UAE), licensed by the Dubai Financial Services Authority. The service aims to provide secure storage for digital assets, initially focusing on bitcoin and ethereum. Brevan Howard Digital is the first client, and the bank plans further expansion into additional digital assets.…
Read more
Komodo CTO Kadan Stadlemann said the United Arab Emirates’ (UAE) political stability fosters a friendlier environment for crypto businesses to flourish, compared to the challenges they face in the US. In a jab at democracies, he said the UAE’s biggest advantage is its monarchy. The exec believes the UAE’s stable leadership, free from the back-and-forth…
Read more
QCP Capital, a prominent options trading desk for digital assets, has received initial approval to operate in Abu Dhabi, marking its expansion into the Middle East. The Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) has granted in-principle approval to the company, making it the first digital-asset market maker and broker dealer from Singapore to…
Read more
The United Arab Emirates (UAE) recorded $25b in crypto transactions in 2022. Now, it is adopting accommodative regulatory policies to pursue further investment, according to a report published Monday. The Dubai Multi Commodities Centre’s (DMCC) report explored the market potential and opportunities associated with Web3 applications. These applications leverage blockchain to create decentralized digital infrastructure,…
Read more
Matthew White, CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), expressed the watchdog’s commitment to easing the regulation burden for smaller crypto entities. Speaking at a regulatory panel discussion during the Paris Blockchain Week, White acknowledged the imperfections in crypto regulations and emphasized the need for improvement. VARA CEO Advocates for Innovative Solutions to Regulatory…
Read more
Deribit, the world’s largest crypto options exchange, said Tuesday that its Dubai-based subsidiary was granted a conditional virtual asset service provider license by the Virtual Asset Regulatory Authority (VARA). While the license encompasses both spot and derivatives trading activities, it is currently not operational. Deribit must fulfill all outstanding requirements and VARA’s specific localization criteria…
Read more
Matt White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), sees the Financial Action Task Force’s removal of the UAE from the grey list as a positive move, clearing the way for increased crypto-related investments. After the UAE fulfilled its action plan to tackle money laundering and terrorism financing, the FATF decided to remove the…
Read more
On Tuesday, Nexo announced its Dubai entity, Nexo DWTC, had secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to engage in virtual asset lending, borrowing, and broker-dealer activities within the UAE’s most populous city. Nexo Gains Initial VARA Approval for Dubai Crypto Operations The crypto lender Nexo received a provisional “Initial Approval [IA]”…
Read more
