Homegrown crypto broker BitOasis receives active operational go ahead from Dubai’s regulator
BitOasis, the first homegrown crypto broker out of UAE, has reverted back to active operational status, allowing it to onboard new clients, while it awaits approval for its full operational VASP license from Dubai’s virtual asset regulatory authority (VARA). As per VARA’s website, under active MVP operational status, BitOasis Technologies FZE Virtual Asset Service Provider […]
Dubai’s virtual asset regulatory authority to onboard the Financial sector
In a recent interview with the CEO of Dubai’s virtual asset regulatory authority, Mathew White, he discusses the need to bring the UAE Banking sector and financial institutions onboard the virtual assets ecosystem. This would include the banking sector and their role in servicing virtual asset service providers as well as institutional players who either […]
Dubai virtual asset regulator awards 19 regulated VASP licenses with 72 more to come
VARA, Dubai’s virtual asset regulatory authority has announced that in 2023 it awarded 19 regulated VASP licenses, of which 11 are already operational. In addition 72 initial approvals have been issued to new entrants and have commenced licensing process. The regulator also stated that it had issued 133 application acknowledgement notices which is a reflection […]
UAE regulator publishes terrorist red flag guidance that includes virtual assets
The regulatory authority of Abu Dhabi Global Market, the FSRA ( Financial Services Regulatory Authority), Financial Crime Unit, has published an update on terrorist and proliferation financing red flags guidance that include a new section for specific red flags applicable tovirtual assets and virtual asset service providers (VASPs). The update is related to the provisions […]
Abu Dhabi ADGM to amend its virtual asset regulations and introduce DeFi regulations
The Abu Dhabi financial free zone hub, ADGM (Abu Dhabi Global Market) and its regulatory body the FSRA (Financial Services regulatory Authority) have published their business plan for 2024 which outlines introducing DeFi regulations as well as amendments to its virtual assets regulatory framework. ADGM which announced its virtual assets framework back in 2018 has […]
Dubai’s virtual asset regulatory authority appoints new CEO as it commences fining spree
Dubai’s Virtual Assets Regulatory Authority (VARA) in a press release has announced that Mathew White will be the new CEO of VARA as the authority moves towards the next phase of ramping up to full scale market operations. This comes as VARA gears up towards fining a dozen crypto firms. As per the press release, […]
UAE issues stablecoin and new digital asset regulations and legislation
In the last week of September, two huge regulatory entities, the Dubai virtual assets regulatory authority and DIFC (Dubai International Financial Center) in the UAE announced updates in their crypto regulations, targeting digital assets, security tokens and stablecoins. Dubai’s Virtual asset regulatory authority (VARA) updated its virtual asset rulebook and added new regulations with regards […]
DLA Piper’s TOKO receives crypto broker license from Dubai’s VARA regulatory authority
TOKO FZE has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA), allowing the entity to undertake Virtual Asset Broker Dealer and Exchange services as a full market offering in and from the Emirate of Dubai. As a Web3 FinTech born out of a leading Tier 1 multinational law firm DLA Piper, TOKO recognizes […]
Virtual assets included in UAE terrorist financing and proliferation red flag list guidance
In September 2023, the UAE Executive office for Control and Nonproliferation published a guidance providing consolidated list of terrorist financing (TF) and proliferation financing (PF) red flags that include provisions related to virtual assets. According to the published document, the purpose is to provide a consolidated list1 of Terrorist Financing (TF) and Proliferation Financing (PF) […]
