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The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against seven unlicensed crypto entities for operating without licenses and violating marketing regulations. VARA has issued cease-and-desist orders and imposed fines on these entities. The regulator warned the public of the risks associated with dealing with unlicensed crypto businesses, emphasizing the potential for financial and … Read more
Crypto.com has secured a payment service provider (PSP) license from the Central Bank of Bahrain (CBB). This license allows the crypto exchange to offer e-money and fiat-based payment services, including its prepaid cards, in the region. The approval adds to Crypto.com’s growing list of regulatory approvals worldwide, further solidifying its global presence. Meanwhile, Amber Group’s … Read more
The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai. Go to Source
Crypto.com partners with Standard Chartered Bank to provide fiat currency services in over 90 countries, starting in the UAE. Go to Source
Binance is transitioning UAE resident accounts to its new regulated local entity, Binance FZE, following a Virtual Asset Service Provider license from Dubai’s regulator. This change will allow UAE users to access various virtual asset services locally, including AED bank deposits and withdrawals. Binance’s Local Exchange in UAE Now Licensed Crypto exchange Binance announced on … Read more
NH Management’s Tao Xiao explained that VARA’s objective is not to hinder progress but to secure the market’s integrity. Go to Source
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
The license is pending operational approval and allows Crypto.com’s Dubai entity to offer exchange, broker-dealer, and lending and borrowing services. Go to Source
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. Go to Source
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. Go to Source Powered by WPeMatico
