Singapore-based cryptocurrency exchange Crypto.com announced Friday that it has received provisional approval for its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA). Crypto.com Gets Regulatory Nod In Dubai According to an official announcement, Crypto.com has received provisional approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA), allowing the firm to offer a full suite of crypto exchange products and services. The operating license under this specialized program will be issued as soon as the firm qualifies for all mandated requirements in the near term. “We are excited to provide more of our products and services in a market of great importance to our business, and one that is equally committed to regulation and compliance. We look forward to working with regulators throughout the region to further expand Crypto.com’s offering and presence in the market,” Co-Founder and CEO of Crypto.com, Kris Marszalek, said in the announcement release. Established in March 2022, VARA oversees the issuing, trading, and authorizing of virtual assets in Dubai, regulates cryptocurrency exchanges and service providers, and monitors transactions to ensure the highest standards of consumer protection. This is the latest example of Crypto.com expanding its presence in the Middle East. In March, the company announced its plans to set up a regional hub in Dubai. The...
