The Virtual Assets Regulatory Authority of Dubai has already approved Crypto.com, OKX, and FTX subsidiaries to offer crypto-related services in the emirate.
Dubai’s Virtual Assets Regulatory Authority has Crypto.com’s subsidiaries, OKX and FTX, to provide cryptocurrency services in the emirate.
Blockchain wallet and cryptocurrency exchange platform Blockchain.com has reportedly received regulatory approval from Dubai’s Virtual Assets Regulatory Authority, or VARA.
According to a Reuters report on Friday, VARA signed an agreement allowing Blockchain.com to open an office in Dubai. The crypto company currently has several offices in North America, Europe, South America and Singapore.
Since the Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum announced the creation of a crypto regulator in March, VARA has approved subsidiaries Crypto.com, OKX and FTX to provide crypto services in the emirate. Al Maktoum also launched the Metaverse strategy in July to create more than 40,000 virtual jobs in Dubai by 2030.
One of the oldest Bitcoin (BTC) infrastructure companies headquartered in London, Blockchain.com plans to seek regulatory approval in Italy, France, Spain and the Netherlands. In August, the Cayman Islands Monetary Authority officially approved Blockchain.com to operate the exchange and provide security services. The digital currency company was valued at $14 billion after a funding round in March.
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