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Dubai Grants Regulatory Approval to Blockchain.com Office: Report

Published on

January 10, 2023
Read Time:1 Minute, 10 Second

Blockchain pockets and cryptocurrency trade platform Blockchain.com has reportedly obtained regulatory approval from Dubai's Digital Belongings Regulatory Authority (VARA).

In accordance with a Friday report by Reuters, VARA signed an settlement permitting Blockchain.com to open an workplace in Dubai. The crypto agency presently operates a number of places of work in North America, Europe, South America and Singapore.

Nice job from the crew right here - Dubai ✅✅https://t.co/8nQm8w8y3g

— Peter Smith (@OneMorePeter) September 9, 2022

Since Dubai's Prime Minister and Ruler Sheikh Mohammed bin Rashid Al Maktoum introduced the institution of the crypto regulator and an accompanying legislation in March, VARA has granted Crypto.com's subsidiaries, OKX and FTX, permission to supply crypto-related companies within the emirate. In July, Al Maktoum additionally launched a Metaverse technique aimed toward bringing greater than 40,000 digital jobs to Dubai by 2030.

Associated: From valley to oasis: Swiss and Dubai crypto associations be part of forces

As one of many oldest infrastructure corporations for Bitcoin (BTC), headquartered in London, Blockchain.com can be searching for regulatory approval in Italy, France, Spain and the Netherlands. In August, the Cayman Islands Financial Authority formally approved Blockchain.com to function an trade and provide custody companies. After a funding spherical in March, the crypto agency was reportedly valued at $14 billion.

Cointelegraph reached out to Blockchain.com however obtained no response on the time of publication.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 10, 2023
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