The virtual regulatory environment is heating up in Dubai and across the UAE as both UAE’s Securities and Commodities Authority and VARA race towards regulating virtual asset entities both across UAE as well as in Dubai. The UAE Securities and Commodities Authority in a recent press release announced that it has opened up registration for those seeking licenses as virtual asset providers across UAE and has added new licensing virtual asset sectors, while Dubai’s VARA is working with both the Dubai’s Department of Economy and Dubai’s free zones to ensure the set deadline of 30th April for all initial disclosure questionnaires (IDQs). As stated in the release all virtual asset providers who have a presence in the UAE with exception to those who are licensed in financial free zones are required to apply for a license from UAE SCA authority while entities in Dubai should apply through the unified requirement of both Dubai’s Virtual Asset Authority and SCA enabling them to quickly and

    Singaporean ChainUp Group, a global blockchain technology solutions provider, has expanded its operations into the UAE and MENA region with a sales office in Dubai. The company aims to provide blockchain solutions to businesses across the Middle East region. The new sales office in Dubai has since begun operations and seeks to form new partnerships with enterprises in the region. The team will work to curate blockchain solutions to fulfill the needs of prospective clients for them to operate more efficiently and securely. ChainUp Group has a foothold across multiple locations around the world including Hong Kong, Japan, Korea, and the United States. The company   offers a suite of blockchain solutions covering infrastructure development and ecosystem support including digital asset trading systems, NFT trading systems, wallet solutions, liquidity solutions, Web3 infrastructure, digital assets custody, and more. Ms. Tan Bin Ru, Deputy CEO & COO of ChainUp Group comment

  Abu Dhabi’s ADQ and Further Ventures, an investment firm back by ADQ have launched a $200 million fund focused on Fintech, digital assets and supplychain. As per the news, entrepreneurs and experienced executives who choose to launch their next venture with Further will have access to product and engineering resources for concept development; seed capital required to take the business to Series A; and reserved capital for following on through multiple rounds of funding beyond capital investment. Further ventures also has a dedicated team that provides legal and regulatory support, talent sourcing and recruitment, operations, and business development expertise with access to some of the largest organizations in the Middle East and North Africa (MENA) region as well as venture builders globally, as part of Further’s extensive network. Further is focused on building, digital asset payments products, blockchain asset custody, security solutions, marketplaces, wallets and other infr

  Nasdaq has launched its Digital Assets business unit that as they note will power the digital asset ecosystem. Nasdaq aims to provide trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity.   Adena Friedman, President and Chief Executive Officer, Nasdaq stated, “Nasdaq Digital Assets builds upon the successful solutions we have introduced in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products. The technology that underpins the digital asset ecosystem has the potential to transform markets over the long-term. To deliver on that opportunity, our focus will be to provide institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution.”   Nasdaq Digital Assets will initially develop an advanced custody solution that will incorpor