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CryptoIntelligence 2024-04-14 15:33:17

Crypto.com Secures Historic Approval to Operate with Fiat in the UAE, Pioneering Cryptocurrency Exchange Services in the Region

Crypto.com Secures Historic Approval to Operate with Fiat in the UAE, Pioneering Cryptocurrency Exchange Services in the Region

Crypto.com’s branch in Dubai, CRO DAX Middle East FZE, has recently achieved a significant regulatory milestone by obtaining full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This landmark approval, announced on April 9, marks the first time a cryptocurrency exchange has been authorized to handle fiat transactions within the United Arab Emirates (UAE). This development follows the initial licensing phase, where Crypto.com met all pre-operational requirements set by VARA since the virtual asset service provider license was issued in November 2023. With this new operational status, Crypto.com plans to launch its exchange services specifically aimed at institutional investors,

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