{"id":195855,"date":"2023-11-14T07:40:07","date_gmt":"2023-11-14T07:40:07","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=195855"},"modified":"2023-11-14T07:40:07","modified_gmt":"2023-11-14T07:40:07","slug":"crypto-com-granted-dubai-crypto-license","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/crypto-com-granted-dubai-crypto-license\/","title":{"rendered":"Crypto.com granted Dubai crypto license"},"content":{"rendered":"<p>Crypto exchange Crypto.com\u2019s Dubai entity was granted a Virtual Assets Service Provider (VASP) license by the city\u2019s regulator, pending operational approval.<\/p>\n<p>In a Nov. 14 press release, Crypto.com said that once fully approved by Dubai\u2019s Virtual Assets Regulatory Authority (VARA), its local business CRO DAX Middle East FZE can offer retail and institutional investors exchange, broker-dealer, and lending and borrowing services.<\/p>\n<p>Crypto.com CEO Kris Marszalek said in a statement that it looks forward to working with regulators to contribute to Dubai\u2019s crypto industry and said the city is a \u201cleading market when designing effective regulation.\u201d<\/p>\n<p>In March 2022, the exchange pinned Dubai as its Middle East and North Africa hub. It received a provisional license from VARA in June 2022, followed by a minimal viable product (MVP) preparatory license in March this year.<\/p>\n<p><strong><em>Related: Standard Chartered\u2019s venture arm to set up crypto fund in UAE<\/em><\/strong><\/p>\n<p>With United States regulators taking action against crypto firms, Dubai has become a sought-after destination for crypto businesses seeking legal clarity \u2014 with many firms\u00a0eyeing the crypto-friendly jurisdiction as an emerging digital assets hub in the Middle East.\u00a0<\/p>\n<p> Binance Dubai General Manager Alex Chehad said that unlike the U.S., Dubai and the United Arab Emirates have provided a clear regulatory framework for crypto firms to follow, which made it easier for large companies like Binance to establish permanent headquarters in the region.\u00a0<\/p>\n<p><strong><em>Magazine:\u00a0Exclusive \u2014 2 years after John McAfee\u2019s death, widow Janice is broke and needs answers<\/em><\/strong><\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/cryptocom-granted-dubai-crypto-licence\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Crypto.com\u2019s Dubai entity was granted a Virtual Assets Service Provider (VASP) license by&#8230;<\/p>\n","protected":false},"author":4,"featured_media":195854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - 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