Dubai’s Virtual Assets Regulatory Authority (VARA) has granted a preparatory license to the cryptocurrency exchange Crypto.com, bringing it closer to getting its full operational license.
With the Minimal Viable Product (MVP) Preparatory license, Crypto.com has passed the second stage of the licensing process and can move towards obtaining an operational license in Dubai. It cleared the first stage, with initial provisional approval from VARA in June 2022.
According to the Crypto.com press release, it intends to offer a “full suite of institutional services in-market in compliance with regulations” after getting an operational license.
VARA’s Review Procedure Before Granting an MVP Preparatory License
In the preparatory stage, companies can fulfill all pre-conditions required by VARA to operate as Virtual Assets Service Providers (VASPs.)
Crypto.com writes that it got the license after an examination of its compliance…
