The exchange Crypto.com has received a license for a virtual assets service provider in Dubai – Bits Media

The exchange Crypto.com announced, that her representative office Cro Dax Middle East Fze has successfully completed the second stage of licensing the activities of the supplier of virtual assets services (VASP) In the Office for the Regulation of Virtual Assets of Dubai (BE).

The license is provided by Crypto.com on conditions for the implementation of regulator requirements. Getting a full Vara license includes three stages: Pre -resolution, Preparatory license and operating license. Crypto.com is now at the third stage of the licensing process. However, in order to start the full -fledged work of the representative office in Dubai, the Exchange must satisfy all the requirements of the regulator and the conditions of business localization in the Emirates.

Upon completion of the Crypto.com licensing procedure, a permit for the provision of "exchange services, Broker-Dieler services, management and investment services, as well as lending services and loans ".

Earlier, the Dubai virtual assets regulation department prohibited
BORDED GEN DMCC to promote and spreads the ISLAMIC COIN token (ISLM) On the territory of the UAE.