Crypto.com Gets Green Light to Operate in Dubai
Crypto.com announced a major win in Dubai. Their local entity, CRO DAX Middle East FZE, has been granted full approval to operate by Dubai’s Virtual Assets Regulatory Authority (VARA). As their first step, they’re launching the Crypto.com Exchange specifically for institutional investors.
This approval comes after CRO DAX Middle East FZE met all the requirements for its Virtual Asset Service Provider License, which was awarded in November 2023. Notably, Crypto.com becomes the first global crypto company to operate with fiat currency (traditional money) in the UAE.
Here are the key points:
- Crypto.com got approval to operate in Dubai.
- They can now offer their exchange to institutional investors.
- This is a first for a global crypto company in the UAE.
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