In a recent blog post by CoinW, a crypto exchange, the company unilaterally announced that it has received an initial approval from Dubai Virtual Asset regulatory Authority. According to CoinW this is a significant step in their global expansion which will lead to substantial investments in the UAE market and MENA region. As per the post the initial approval from VARA means that CoinW will be able to operate its regional business in Dubai within the newly announced regulatory framework and serve as its foundation for operation in the region. Sonia Shaw the Global Cooperation Director of CoinW based out of UAE, commented that the UAE is growing into an important global cryptocurrency hub, with Dubai being the first global economy to establish a dedicated regulatory authority for the virtual asset industry. It is foreseeable that the cryptocurrency business in the Middle East will thrive in the coming years. She states, “CoinW is optimistic about the potential of this city a

  Crypto exchange, MaskEX has unilaterally announced receiving an initial approval from Dubai’s Virtual Asset Regulatory Authority (VARA) to begin making preparations for its launch in the United Arab Emirates (UAE). It also will be opening its headquarters in Dubai and hiring.  As per the announcement, the approval represents a major milestone for MaskEX, which has been working tirelessly to expand its presence in the Middle East and bring the benefits of virtual assets to a wider audience. MaskEX will begin finalizing its entity incorporation, engage banking services, hire more staff in Dubai for its soon-to-be-opened headquarters office, and take the necessary steps to become the first regulated exchange in the UAE. The services and activities MaskEX has applied for include exchange, lending and borrowing, broker-dealer, and virtual asset management and investment services, with the aim of obtaining VARA’s highly acclaimed FMP license. This license will enable MaskEX to operat

  The Dubai based Q9 Capital, which had announced a month ago unilaterally announced that they had received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA) are now listed on Dubai VARA ( Virtual Asset Regulatory Authority) website under Native crypto content/ DLT platform. Q9 is listed along with Calvin Cheng Web 3.0 Holding and Woonkly Labs. This had taken some time, as Q9 Capital had announced that they had received a provisional approval in October 2022. But looking at VARA website, it seems Q9 has received a DLT or crypto content preliminary approval.  As per Q9 press release the company is a crypto investment management platform offering capabilities to crypto and TradFi firms. Q9 had stated that this approval came as it expanded into the UAE and applied for a full operating license in accordance with VARA requirements.   As per the release, Q9 products and strategies can be created and executed on Q9’s platform, such as systematic i