Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-03-30 11:53:08

Dubai’s Crypto Regulator Grants Provisional Approval to BitOasis

UAE-based crypto exchange BitOasis has received provisional approval from Dubai’s new crypto regulator to continue its existing business operations in the region. BitOasis Gets Provisional Approval From Dubai According to Reuters, BitOasis received provisional approval to continue its existing business operations in Dubai and is currently undergoing the process of applying for a full license in accordance with Virtual Asset Regulatory Authority (VARA) license. Before coming under VARA, BitOasis had been registered with the central bank and reported anti-money laundering issues to the bank’s financial intelligence unit. “We will continue to strive to offer our customers the most customised platform for their local needs in accordance with regulations that will best protect them both now and as the industry evolves,” Ola Doudin, co-founder and chief executive of BitOasis, said. Dubai’s Push Towards Becoming the Global Crypto Capital Earlier this month, Dubai adopted a law to regulate virtual assets. The city’s Virtual Asset Regulatory Authority (VARA) license mandates the growing crypto sector in Dubai, including all mainland and free zones, excluding the autonomous Financial Free Zone at the Dubai International Financial Centre. Following the announcement, major cryptocurrency exchanges, Binance, and FTX Europe secured virtual asset licenses to operate in Dubai. Similarly, Bybit and Crypto.com announced this week that they are ...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer