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Regulators Partner to Bolster UAE’s Crypto Hub Status

[Sep 11 8:30 AM] United Arab Emirates (UAE) regulators, SCA and VARA, have signed a cooperation agreement to strengthen the country’s position as a virtual assets hub. The agreement outlines licensing requirements for VASPs, establishes mutual supervision…

UAE Bank Launches VASP-Focused Accounts for Managing User Funds

[Aug 1 4:10 PM] Commercial Bank of Dubai (CBD), a United Arab Emirates-based bank, has launched dedicated accounts for virtual asset service providers to manage client funds. CEO Bernd van Linder said the move aligns with CBD’s core banking services and supports…

Deribit’s Dubai Unit Receives ‘Conditional’ Virtual Asset Service Provider License

[Apr 3 3:19 AM] Deribit FZE, an entity owned by crypto derivatives platform Deribit, has secured a conditional virtual asset service provider from the Dubai virtual assets regulator. The license, which covers spot and derivative trading, will remain…

UAE Virtual Assets Regulator Says Islamic Coin Issuer Has ‘Cooperated Fully’

[Nov 25, 2023 5:30 AM] Bored Gen DMCC, the issuer of islamic coin, has cooperated fully with the Virtual Assets Regulatory Authority’s ongoing investigation into the token’s issuance and distribution. Bored Gen, however, still needs to “secure…

Dubai Regulator Unveils Schedule of Fees for Virtual Asset-Related Activities

[Jun 28, 2023 4:00 AM] The Dubai Virtual Asset Regulatory Authority (VARA) recently announced the schedule of fees “covering the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications, and the submission of…

Crypto Exchange Okx Gets MVP Preparatory License From Dubai Regulator

[Jun 16, 2023 5:30 AM] Crypto exchange platform Okx Global has been granted the minimal viable product (MVP) preparatory license by the Dubai regulator, the Virtual Assets Regulatory Authority (VARA). The latest VARA license has been granted almost a year after Okx…

Report: Binance Asked to Provide More Information as Dubai Tightens Screws Against Crypto Entities

[Apr 6, 2023 7:30 PM] Dubai’s Virtual Assets Regulatory Authority (VARA) has reportedly asked Binance to share more information about the crypto exchange’s ownership structure and its auditing procedures. According to reports, Dubai regulators are still keen…

UAE Says No Virtual Asset Service Provider Has Been Granted an Operating Permit

[Jan 21, 2023 3:30 AM] The United Arab Emirates virtual assets regulator has said no crypto entity has been granted the full market product (FMP) license. According to the country’s minister of state for artificial intelligence and the digital economy, Omar Sultan…