Crypto.com’s Dubai entity, CRO DAX Middle East FZE, has obtained a Virtual Assets Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows Crypto.com’s Dubai exchange to engage in specific crypto services. This milestone signifies a significant step for Crypto.com in offering regulated digital asset services and solidifies Dubai’s position as a leading global hub for the virtual asset sector. The VASP License comes with certain conditions and localization requirements defined by VARA, but once these are met, Crypto.com will be authorized to offer regulated digital asset services such as exchange, broker-dealer, management and investment, and lending and borrowing services. Dubai’s commitment to establishing effective regulations for the cryptocurrency space highlights its role as a leading market, encouraging adoption and fostering innovation. CEO Kris Marszalek expressed confidence in Dubai’s regulatory framework and the city’s proactive approach to supporting the growth of the cryptocurrency industry. With this license, Crypto.com aims to provide a comprehensive suite of services, including exchange, broker-dealer, and lending/borrowing. Dubai’s crypto-friendly policies and regulatory clarity have made it an attractive destination for businesses in the crypto industry, positioning the city as a burgeoning digital assets hub in the Middle East.

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Information	Details
Geography	Middle East
Countries	🇦🇪
Sentiment	positive
Relevance Score	1
People	Kris Marszalek
Companies	Dubai’s Virtual Assets Regulatory Authority (VARA), Dubai International Financial Centre, United Arab Emirates, CRO DAX Middle East FZE, Crypto.com
Currencies	None
Securities	None