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Blockchain.com Secures Regulatory Approval From Dubai’s VARA



Blockchain.com, the blockchain wallet and cryptocurrency exchange platform, has secured regulatory approval from Dubai’s Virtual Assets Regulatory Authority (VARA).


It has been reported that VARA signed an agreement that will allow Blockchain.com to open an office in Dubai. The crypto firm currently operates several offices in North America, Europe, South America, and Singapore.


However, since the prime minister and ruler of the United Arab Emirates Sheikh Mohammed bin Rashid Al Maktoum announced the establishment of the crypto regulator and an accompanying law in March, VARA has granted approval for Crypto.com, OKX, and FTX subsidiaries to offer crypto-related services in the emirate.

The report said that in July, Al Maktoum also launched a metaverse strategy that aimed to bring more than 40,000 virtual jobs to Dubai by 2030. One of the oldest Bitcoin (BTC) infrastructure firms headquartered in London, Blockchain.com is also aiming toward regulatory approval in Italy, France, Spain, and The Netherlands.


Thus, in August, the Cayman Islands Monetary Authority officially authorized Blockchain.com to operate an exchange and provide custodial services. After a March funding round, the crypto firm was reportedly valued at $14 billion.


Source: Cointelegraph


 

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