Middle East

Earlier today, Binance shared the news that it had received a Virtual Asset License permitting operations within Dubai.  Virtual Asset Regulatory Authority to Monitor Affairs The exchange platform can now offer limited exchange goods and services to eligible investors and establishments in the UAE. However, this will be done in accordance with the Virtual Asset Regulatory Authority’s (VARA) initial regulatory stage. The permit grants Binance the opportunity to function within Dubai’s digital asset market model which runs under the “test-adapt-scale”…

Asian financial hub Dubai is set to have robust regulations governing the use of cryptocurrencies within its region. This was revealed by the Dubai Financial Services Authority (DFSA), the financial regulator for the emirate’s financial free zone. A legal framework for crypto-assets This latest development was revealed in the DFSA business plan released on Monday. According to the report, the DFSA will also regulate different digital assets, including security tokens and payment tokens. These regulations will cover crypto-assets and firms…

Regulations in the cryptocurrency space have been a major point of focus. In February this year, Treasury Secretary Steven Mnuchin noted that cryptocurrency regulations will soon arrive in the United States. Some people consider cryptocurrency regulations as a hindrance to innovation and adoption. However, the cryptocurrency space is at higher risk due to the absence of clear regulation. Due to unclear regulations, numerous cryptocurrency exchanges have moved their base to other countries. Recently, Jason Williams of Morgan Creek Digital featured…