Dubai’s Virtual Asset Regulatory Authority has granted Crypto.com a preliminary license for a minimum viable product (MVP), according to Crypto.com (VARA).
Following getting preliminary approval from the Dubai administration in 2022, the exchange was issued this license for preparatory activity. During the preparatory phase, the MVP license enables the exchange to comply with the VARA operational standards. The rules specify that no company may engage in or seem to engage in any virtual asset activity in Dubai via advertising and promotions unless authorized and controlled by VARA.
The VARA of Dubai was founded in March 2022 and is responsible for regulating, monitoring, and managing virtual assets and virtual asset activity in all zones of the Emirate of Dubai, except the Dubai International Financial Centre.
During the preparatory phase of the VARA regime, the MVP phase enables approved licensees to satisfy all prerequisites for…
