Dubai’s virtual asset regulatory authority, VARA has granted Laser Digital Middle East FZE, the crypto arm of Japanese Nomura Holdings, a full crypto license that will allow it to offer virtual asset broker dealer and investment management services in the UAE. Laser Digital announced that   Laser plans to launch over-the-counter trading services and digital-asset investment products for institutional investors in coming months. According to VARA website, Laser Digital has been awarded This is the full VARA licence, issued to VASPs which satisfies all of the requirements as specified under the Virtual Assets and Related Activities Regulations 2023. It allows a VASP to offer approved Virtual Asset services to retail customers as well as institutional customers and Qualified Investors. Laser Digital, which is headquartered in Switzerland with officers in Dubai and London, said in a statement it had received the licence from Dubai's Virtual Asset Regulatory Authority, a...

  After receiving is preliminary approval for a license, Bybit has jumped to the next stage with a minimum viable product preparatory license from Dubai’s virtual asset regulatory authority ( VARA). VARA placed ByBit on its public registery. This comes after global crypto exchange ByBit partnered with UAE’s DMCC freezone to offer financial support totaling $136,000 for new crypto businesses looking to set up in the DMCC crypto center. Bybit's pledge of financial support in the amount of $136,000 will be used to kickstart the growth journeys of 15 new Web3 companies at the DMCC Crypto Centre. Again Bybit also supported crypto and blockchain ecosystem in the UAE with the University of Sharjah. Bybit contributed $272.000 equivalent to 1 million AED to establish a scholarship fund to support 20 students to accelerate their academic and research career into fintech and blockchain at the American University of Sharjah. In March 2023 Bybit was one of the global crypto exchanges...

  Universal Digital AEDU and Canadian Aquanow have received MVP ( Minimum Viable Product) provisional license approvals for several virtual asset licenses from Dubai’s Virtual asset regulatory authority ( VARA ). Universal Digital (AEDU) has applied for advisory license, broker dealer services, virtual asset custodial license, crypto exchange license, crypto lending and borrowing license, as well as management and investment service license. In addition Canadian headquartered, digital asset platform has also received MVP provisional approval for advisory license, broker dealer license, and management investment service license. Aquanow is a privately funded, infrastructure and liquidity provider that enables institutional and enterprise use-cases for digital assets. The company currently has 200 institutional clients, serving customers in 30 plus countries with 70 asset pairings. This is another representation of increased interest in the UAE as a center for virtual assets, blo...

    Dubai’s virtual asset regulator, VARA has issued an alert and warning with regards to virtual asset exchange OPNX (opnx.com) which launched on April 4 th 2023. As per VARA’s announcement investors should note that OPNX is not regulated by VARA and any activity being carried out by them in Dubai is being performed on an unregulated basis. The warning adds that while OPNX.com claims to offer exchange services for complex VA products including but not limited to derivatives and tokenized bankruptcy claims. These products have not been reviewed by VARA, and may not be suitable for all investors; As per Dubai Law No. (4) of 2022: mandates that all VA Activity must be regulated in order to be deemed permissible in this jurisdiction, and as such, OPNX is not legally authorised to provide any VA services from/in the Emirate of Dubai; and Cabinet Resolution No. 111/2022: advises the market to not engage with unregulated VASPs Any promotions, advertising, solicitation a...