• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Dubai regulation check: Which companies got approvals recently?

Jon Hartney by Jon Hartney
August 1, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

In July, exchanges flocked to get approvals under Dubai’s Virtual Asset Regulatory Authority to expand their operations within the region.

Dubai has positioned itself as one of the most crypto-friendly cities, having established a new regulator to cement the United Arab Emirates’ position in the crypto space. Following the move, crypto exchanges began to flock to the region, securing the newly formed regulator’s approval to operate within the region. 

In March, Dubai’s authorities announced a new law on crypto assets and established a new regulating body called the Dubai Virtual Asset Regulatory Authority (VARA). The regulator is tasked with organizing the issuance and trading of virtual assets and virtual tokens, authorizing virtual asset service providers, ensuring the protection of personal data, organizing the operations of virtual asset platforms and preventing price manipulation.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

VARA has regulatory authority within the Emirate’s special development and free zones. However, it does not have jurisdiction over the Dubai International Financial Centre (DIFC). In a previous interview with Cointelegraph, Kokila Alagh, the founder of a UAE-based law firm, explained that the DIFC is governed by its own independent regulator, the Dubai Financial Services Authority.

Related: Dubai to ramp up metaverse efforts with 40,000 new jobs

With the region providing much regulatory clarity and an intention to become a key player in contributing to the future of crypto, exchanges took the opportunity to jump into the region, securing provisional approvals from VARA. In July alone, many exchanges secured approvals to expand their reach in the region.

OKX extends offers after securing a provisional license

On July 14, the exchange OKX made a push into Dubai when it acquired a provisional license under VARA. According to the OKX team, the license allows the exchange to extend its services and products within the region. This means it can offer added services for specific investors and financial service providers in Dubai.

Huobi secures MVP provisional license

Crypto exchange Huobi Global jumped into the train as it secured a Minimal Viable Product (MVP) license under VARA. In an announcement sent to Cointelegraph on July 15, Huobi noted that Huobi Investment FZE, a UAE-based entity under Huobi, was authorized to offer its products and services under VARA’s specialized parameters. Following this, the exchange plans to set up a headquarters in the region.

Komainu to provide crypto custody after securing VARA approval

Komainu, a firm working with institutions to gain crypto exposure, announced that it was granted approval to operate within the region on July 27. With the authorization to operate, the custodian can extend its custody services for blockchain-based digital assets to firms within the region.

FTX subsidiary gets operating license

FTX FZE, a subsidiary of crypto exchange FTX, secured an operating license from VARA on July 29. The firm secured the approval under the Minimal Viable Product (MVP) license, allowing the exchange to fully operate within the region and letting it provide regulated crypto derivatives and trading services to qualified institutions. Previously, FTX also secured the virtual asset exchange (VAX) license under VARA.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,386.000.18%
  • ethereumEthereum(ETH)$1,669.160.68%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$332.521.14%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • rippleXRP(XRP)$0.4109420.17%
  • Binance USDBinance USD(BUSD)$1.00-0.05%
  • cardanoCardano(ADA)$0.4018730.22%
  • dogecoinDogecoin(DOGE)$0.0958812.32%
  • matic-networkPolygon(MATIC)$1.241.41%
  • OKBOKB(OKB)$43.835.39%
  • SolanaSolana(SOL)$24.38-0.52%
  • Shiba InuShiba Inu(SHIB)$0.0000158.81%
  • Lido Staked EtherLido Staked Ether(STETH)$1,665.340.75%
  • polkadotPolkadot(DOT)$6.86-0.31%
  • litecoinLitecoin(LTC)$98.81-0.13%
  • AvalancheAvalanche(AVAX)$20.98-1.26%
  • tronTRON(TRX)$0.0648162.05%
  • UniswapUniswap(UNI)$7.281.70%
  • daiDai(DAI)$1.000.05%
  • cosmosCosmos Hub(ATOM)$14.65-1.29%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,398.000.14%
  • chainlinkChainlink(LINK)$7.220.16%
  • ToncoinToncoin(TON)$2.33-0.08%
  • ethereum-classicEthereum Classic(ETC)$23.771.92%
  • leo-tokenLEO Token(LEO)$3.491.19%
  • moneroMonero(XMR)$172.69-0.12%
  • AptosAptos(APT)$16.610.27%
  • bitcoin-cashBitcoin Cash(BCH)$137.740.47%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.093036-0.02%
  • ApeCoinApeCoin(APE)$5.89-0.92%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.532.97%
  • CronosCronos(CRO)$0.0836551.38%
  • filecoinFilecoin(FIL)$5.52-1.57%
  • QuantQuant(QNT)$142.86-0.95%
  • algorandAlgorand(ALGO)$0.268393-0.40%
  • HederaHedera(HBAR)$0.0732183.57%
  • Lido DAOLido DAO(LDO)$2.19-2.99%
  • vechainVeChain(VET)$0.0248650.49%
  • FantomFantom(FTM)$0.61-2.81%
  • Internet ComputerInternet Computer(ICP)$5.921.89%
  • decentralandDecentraland(MANA)$0.78-0.17%
  • The SandboxThe Sandbox(SAND)$0.771.66%
  • Axie InfinityAxie Infinity(AXS)$11.572.47%
  • AaveAave(AAVE)$88.72-1.19%
  • eosEOS(EOS)$1.110.47%
  • FlowFlow(FLOW)$1.170.80%
  • MultiversXMultiversX(EGLD)$46.802.23%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000193-1.27%
  • theta-tokenTheta Network(THETA)$1.132.45%
  • tezosTezos(XTZ)$1.182.78%
  • FraxFrax(FRAX)$1.00-0.41%
  • The GraphThe Graph(GRT)$0.11240413.42%
  • huobi-tokenHuobi(HT)$5.853.90%
  • true-usdTrueUSD(TUSD)$1.00-0.01%
  • paxos-standardPax Dollar(USDP)$1.000.02%
  • kucoin-sharesKuCoin(KCS)$8.810.89%
  • havvenSynthetix Network(SNX)$2.715.41%
  • bitcoin-cash-svBitcoin SV(BSV)$43.520.34%
  • Curve DAOCurve DAO(CRV)$1.09-1.50%
  • ChilizChiliz(CHZ)$0.145442-0.38%
  • PancakeSwapPancakeSwap(CAKE)$4.575.57%
  • Rocket PoolRocket Pool(RPL)$40.420.32%
  • Frax ShareFrax Share(FXS)$10.26-5.56%
  • eCasheCash(XEC)$0.0000390.38%
  • BitTorrentBitTorrent(BTT)$0.0000011.28%
  • USDDUSDD(USDD)$0.990.00%
  • ImmutableXImmutableX(IMX)$0.91-2.98%
  • Trust WalletTrust Wallet(TWT)$1.691.95%
  • iotaIOTA(MIOTA)$0.2483042.90%
  • Mina ProtocolMina Protocol(MINA)$0.83-2.03%
  • dashDash(DASH)$61.06-1.70%
  • BitDAOBitDAO(BIT)$0.580.25%
  • KlaytnKlaytn(KLAY)$0.2137621.59%
  • GateGate(GT)$4.500.12%
  • OptimismOptimism(OP)$2.99-0.25%
  • makerMaker(MKR)$710.721.21%
  • neoNEO(NEO)$8.80-0.54%
  • cUSDCcUSDC(CUSDC)$0.0227480.00%
  • ArweaveArweave(AR)$11.94-2.40%
  • zcashZcash(ZEC)$46.32-0.26%
  • GMXGMX(GMX)$69.85-6.13%
  • OKCOKC(OKT)$32.637.52%
  • RadixRadix(XRD)$0.057540-2.70%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.05%
  • cDAIcDAI(CDAI)$0.0221920.14%
  • THORChainTHORChain(RUNE)$1.86-1.01%
  • OsmosisOsmosis(OSMO)$1.05-4.54%
  • Tokenize XchangeTokenize Xchange(TKX)$6.810.82%
  • RenderRender(RNDR)$1.787.03%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000057.28%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • loopringLoopring(LRC)$0.401538-1.88%
  • PAX GoldPAX Gold(PAXG)$1,862.72-0.06%
  • enjincoinEnjin Coin(ENJ)$0.4883263.57%
  • Convex FinanceConvex Finance(CVX)$6.55-0.64%
  • zilliqaZilliqa(ZIL)$0.030126-1.17%
  • 1inch1inch(1INCH)$0.619.68%