Nomura subsidiary secures VASP license from Dubai’s digital asset regulator
Dubai's VARA has granted Nomura-backed Laser Digital a VASP permit, allowing it to expand the scope of its offering to include broker-dealer and OTC trading services.
Dubai's VARA has granted Nomura-backed Laser Digital a VASP permit, allowing it to expand the scope of its offering to include broker-dealer and OTC trading services.
Dubai's VARA announced on July 10 that the conditional license issued to BitOasis will remain "non-operational" until the exchange regularizes its processes with the regulator.
Proprietary traders of digital currencies looking to operate in Dubai will be required to possess a no-objection certificate (NOC), according to the Dubai VARA’s official report.
The Dubai Virtual Assets Regulatory Authority license lays the foundation for OKX to obtain a full-scale license in the coming months to offer digital currency services in the region.
The ambitious plan will see the United Arab Emirates moving 50% of all government transactions to the blockchain, a clear statement of intent to pursue its digital currency goals.
Elisabeth Wallace, director at Dubai Financial Services Authority, says there is an increase of “bad actors” taking advantage of the regulatory arbitrage in the digital currency sector.
Standard Chartered's latest plans were contained in an MoU signed with the Dubai International Financial Centre that will see a collaborative effort from both entities.
VARA notes that OPNX crossed its radar in February when the project began collecting personal data from customers, and in its latest advisory, the regulator stated that it would closely monitor OPNX.
With the MVP license, BitOasis now has the right to provide broker-dealer services in Dubai to qualified retail and institutional investors.
Bybit’s new office is situated at the Dubai World Trade Center, overlooking the Dubai International Financial Center (DIFC) and other iconic landmarks.
Under the Full Market Product Regulations, all entities looking to offer virtual currency services in Dubai must obtain a license from VARA first.
SmartLedger's Dr. Eva Porras recounts with Blockchain DXB the SmartLedger team's decision to move to Dubai, the story behind the projects in store for this year, and why they chose to build on BSV.