Crypto Exchange Crypto.com Granted Full Operating License in Dubai

Crypto Exchange Crypto.com Granted Full Operating License in Dubai

Cryptocurrency exchange Crypto.com has achieved a significant milestone in its global expansion plans after receiving a full operational license from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval makes Crypto.com’s Dubai subsidiary, CRO DAX Middle East FZE, the first fully licensed entity authorized to handle both fiat and crypto currencies within the United Arab Emirates (UAE). The development comes after Crypto.com underwent a multi-stage approval process established […]

via Crypto Exchange Crypto.com Granted Full Operating License in Dubai

Cryptocurrency exchange Crypto.com has achieved a significant milestone in its global expansion plans after receiving a full operational license from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval makes Crypto.com’s Dubai subsidiary, CRO DAX Middle East FZE, the first fully licensed entity authorized to handle both fiat and crypto currencies within the United Arab Emirates (UAE).

The development comes after Crypto.com underwent a multi-stage approval process established by VARA. In 2022, the exchange was granted a provisional permit, followed by preparatory licenses for a Minimal Viable Product (MVP). After successfully fulfilling the pre-operational requirements set by VARA in November 2023, Crypto.com has now been granted the full operational license, signifying its adherence to Dubai’s regulatory framework for virtual assets.

Crypto.com’s foray into the Dubai market aligns