Image Source: Pixabay The head of Dubai’s cryptocurrency regulator, Henson Orser has left the role to pursue new interests amid looming domestic fines on digital asset companies for a breach of rules. According to a Bloomberg report Orser, who was the head of the Virtual Assets Regulatory Authority (VARA), will be replaced by Matthew White…
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The license is pending operational approval and allows Crypto.com’s Dubai entity to offer exchange, broker-dealer, and lending and borrowing services. Crypto exchange Crypto.com’s Dubai entity was granted a Virtual Assets Service Provider (VASP) license by the city’s regulator, pending operational approval. In a Nov. 14 press release, Crypto.com said that once fully approved by Dubai’s…
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Source: Pixabay Backpack, an all-in-one Web3 wallet, has become the latest to receive a Virtual Asset Service Provider (VASP) license in Dubai. The approval will enable Backpack to launch a regulated cryptocurrency exchange service in the city. Per the company’s press release, Backpack Exchange is set to launch in private beta for its members in…
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Bankrupt digital asset exchange FTX has filed a motion to exclude its Dubai entity from the ongoing bankruptcy proceedings in the United States. Per the motion, the company argues that FTX Dubai was not in business before Nov 2022 when bankruptcy documents were filed and as such there is no need for restructuring its operations…
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The world’s largest cryptocurrency exchange, Binance, has received a license to operate in Dubai as a regulated platform. The authorization will allow the crypto giant to offer exchange and other services for virtual assets to institutional and qualified retail investors. Dubai Virtual Assets Regulatory Authority Grants Binance MVP License Crypto exchange Binance announced Monday that…
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Cryptocurrency exchange Bitoasis’ license has been deemed “non-operational” by the Dubai digital assets regulator, the Virtual Assets Regulatory Authority. According to the regulator, VARA took the decisive step after Bitoasis failed to meet “mandated conditions within the prescribed timelines.” VARA-Mandated ‘Remedial Actions’ The Dubai digital assets regulator, the Virtual Assets Regulatory Authority (VARA), announced on…
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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. Dubai’s cryptocurrency regulator has suspended the license of crypto exchange BitOasis for not meeting mandated conditions within the timeframes set out by the authority. On July…
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The United Arab Emirates (UAE) minister of state for foreign trade says that cryptocurrency “will play a major role for UAE trade going forward.” He stressed: “The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.” Crypto to Play a Major Role in the UAE United Arab…
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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.” Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX…
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A major cryptocurrency exchange in the UAE, Bitoasis, has obtained provisional approval from Dubai’s new cryptocurrency regulator. Binance and FTX have also been green-lighted by the regulator. Bitoasis Pursuing License From Dubai’s New Crypto Regulator Bitoasis, a major crypto exchange founded and headquartered in Dubai, announced Wednesday that it has received “provisional approval” from Dubai’s…
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