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3232Dubai Regulator Increases Scrutiny on Crypto Companies
https://www.digit.info/dubai-regulator-increases-scrutiny-on-crypto-companies/
Fri, 27 Sep 2024 09:30:26 +0000https://www.digit.info/dubai-regulator-increases-scrutiny-on-crypto-companies/Read more]]>Dubai’s Virtual Assets Regulatory Authority (VARA) has implemented stricter regulations for crypto companies to enhance investor protection and ensure transparency. The new rules require firms to include risk warnings in marketing materials, obtain necessary licenses, and adhere to compliance standards. These measures aim to inform investors about the risks and volatility of cryptocurrencies, while fostering […]
]]>Regulators Partner to Bolster UAE’s Crypto Hub Status
https://www.digit.info/regulators-partner-to-bolster-uaes-crypto-hub-status/
Wed, 11 Sep 2024 08:30:10 +0000https://www.digit.info/regulators-partner-to-bolster-uaes-crypto-hub-status/Read more]]>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 mechanisms, and aims to foster a stable and regulated virtual assets sector in the UAE. Both regulators will work together to ensure […]
]]>UAE Bank Launches VASP-Focused Accounts for Managing User Funds
https://www.digit.info/uae-bank-launches-vasp-focused-accounts-for-managing-user-funds/
Thu, 01 Aug 2024 16:10:20 +0000https://www.digit.info/uae-bank-launches-vasp-focused-accounts-for-managing-user-funds/Read more]]>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 the bank’s plans to foster the digital economy. VASP Accounts Align With Bank’s Vision Commercial Bank of […]
]]>Deribit’s Dubai Unit Receives ‘Conditional’ Virtual Asset Service Provider License
https://www.digit.info/deribits-dubai-unit-receives-conditional-virtual-asset-service-provider-license/
Wed, 03 Apr 2024 09:19:42 +0000https://www.digit.info/2024/04/03/deribits-dubai-unit-receives-conditional-virtual-asset-service-provider-license/Read more]]>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 non-operational until Deribit meets the regulator’s localization requirements. Meeting Dubai’s Localization Requirements Deribit FZE, a wholly owned entity of the crypto […]
]]>Report: Binance Asked to Provide More Information as Dubai Tightens Screws Against Crypto Entities
https://www.digit.info/report-binance-asked-to-provide-more-information-as-dubai-tightens-screws-against-crypto-entities/
Fri, 07 Apr 2023 02:05:02 +0000https://www.digit.info/2023/04/07/report-binance-asked-to-provide-more-information-as-dubai-tightens-screws-against-crypto-entities/Read more]]>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 on fostering innovation but without comprising the security of users’ funds. Binance Asked to Provide More Information The collapse of the crypto exchange […]
]]>UAE Says No Virtual Asset Service Provider Has Been Granted an Operating Permit
https://www.digit.info/uae-says-no-virtual-asset-service-provider-has-been-granted-an-operating-permit/
Sat, 21 Jan 2023 09:30:41 +0000https://www.digit.info/2023/01/21/uae-says-no-virtual-asset-service-provider-has-been-granted-an-operating-permit/Read more]]>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 Al Olama, no crypto entity has been “able to onboard any customers even last week.” VARA Has Yet […]
]]>Report: 11.4% of UAE Residents Have Invested in Cryptocurrencies
https://www.digit.info/report-11-4-of-uae-residents-have-invested-in-cryptocurrencies/
Sun, 04 Sep 2022 09:00:24 +0000https://www.digit.info/2022/09/04/report-11-4-of-uae-residents-have-invested-in-cryptocurrencies/Read more]]>Just over 11% of United Arab Emirates (UAE) residents have invested in cryptocurrencies, a report issued by the country’s Telecommunications and Digital Government Regulatory Authority (TDRA) has reportedly said. Globally, the United Arab Emirates is now ranked tenth in terms of cryptocurrency investment rate. UAE’s Mission to Become a Global Crypto Hub According to a […]
]]>Dubai Regulator Grants Crypto Trading App OKX License to Extend Services in the UAE
https://www.digit.info/dubai-regulator-grants-crypto-trading-app-okx-license-to-extend-services-in-the-uae/
Tue, 19 Jul 2022 07:30:28 +0000https://www.digit.info/2022/07/19/dubai-regulator-grants-crypto-trading-app-okx-license-to-extend-services-in-the-uae/Read more]]>The Seychelles-based crypto trading app, OKX, recently became the latest virtual assets service provider to be granted a provisional licence to provide its services in the United Arab Emirates (UAE). The provisional licence allows OKX to extend certain exchange products and services to pre-qualified investors and financial service providers. OKX Allowed to Extend Certain Exchange […]
Dubai’s Virtual Assets Regulatory Authority (VARA) has implemented stricter regulations for crypto companies to enhance investor protection and ensure transparency. The new rules require firms to include risk warnings in marketing materials, obtain necessary licenses, and adhere to compliance standards. These measures aim to inform investors about the risks and volatility of cryptocurrencies, while fostering […]
]]>
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 mechanisms, and aims to foster a stable and regulated virtual assets sector in the UAE. Both regulators will work together to ensure […]
]]>
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 the bank’s plans to foster the digital economy. VASP Accounts Align With Bank’s Vision Commercial Bank of […]
]]>
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 non-operational until Deribit meets the regulator’s localization requirements. Meeting Dubai’s Localization Requirements Deribit FZE, a wholly owned entity of the crypto […]
]]>
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 on fostering innovation but without comprising the security of users’ funds. Binance Asked to Provide More Information The collapse of the crypto exchange […]
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 Al Olama, no crypto entity has been “able to onboard any customers even last week.” VARA Has Yet […]
Just over 11% of United Arab Emirates (UAE) residents have invested in cryptocurrencies, a report issued by the country’s Telecommunications and Digital Government Regulatory Authority (TDRA) has reportedly said. Globally, the United Arab Emirates is now ranked tenth in terms of cryptocurrency investment rate. UAE’s Mission to Become a Global Crypto Hub According to a […]
The Seychelles-based crypto trading app, OKX, recently became the latest virtual assets service provider to be granted a provisional licence to provide its services in the United Arab Emirates (UAE). The provisional licence allows OKX to extend certain exchange products and services to pre-qualified investors and financial service providers. OKX Allowed to Extend Certain Exchange […]