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Virtual Assets Regulatory Authority (VARA)

Dubai Regulator Increases Scrutiny on Crypto Companies

Dubai Regulator Increases Scrutiny on Crypto CompaniesDubai’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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

UAE Bank Launches VASP-Focused Accounts for Managing User Funds

UAE Bank Launches VASP-Focused Accounts for Managing User FundsCommercial 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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

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

Deribit’s Dubai Unit Receives ‘Conditional’ Virtual Asset Service Provider LicenseDeribit 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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

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

Report: Binance Asked to Provide More Information as Dubai Tightens Screws Against Crypto EntitiesDubai’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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

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

UAE Says No Virtual Asset Service Provider Has Been Granted an Operating PermitThe 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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Report: 11.4% of UAE Residents Have Invested in Cryptocurrencies

Report: 11.4% of UAE Residents Have Invested in CryptocurrenciesJust 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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Dubai Regulator Grants Crypto Trading App OKX License to Extend Services in the UAE

Dubai Regulator Grants Crypto Trading App OKX License to Extend Services in the UAEThe 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 […]

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours