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Amid regulatory turmoil elsewhere, Binance’s Dubai affiliate, Binance FZE, managed to score an Operational Minimum Viable Product license from the Virtual Assets Regulatory Authority (VARA). Binance has now become the…
Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai.
The leading cryptocurrency exchange Bitget revealed its plans to expand into the Middle East region, specifically the United Arab Emirates and Bahrain. The financial heart of the UAE – Dubai…
On July 10, the Emirate’s Virtual Assets Regulatory Authority (VARA) issued a market alert stating that it had initiated an enforcement action against the BitOasis crypto exchange. BitOasis is one…
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
The middle eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people.
The mining firm expects the two facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.
Dubai’s digital asset regulator claimed it had sent two cease and desist notices to the exchange in February and an investor alert against it in April.
The lawmaker said the regulation will need to be both “pragmatic” and “proportionate” to ensure economic growth is maximized.
According to Bloomberg, the Dubai crypto regulator is also seeking similar details from other global crypto players.