Animoca Granted Dubai License Amid Stricter Crypto Oversight
Animoca Brands has received a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing it to offer broker-dealer and asset management services to institutional and qualified investors in Dubai, excluding the Dubai International Financial Centre (DIFC). This move advances Animoca’s strategic focus on institutional clients and strengthens its presence in the Middle East. The development follows regulatory tightening in Dubai, notably the DFSA’s prohibition of privacy tokens like Monero and Zcash, a ban on transaction-masking tools, and stricter definitions of fiat-backed stablecoins to enhance anti-money laundering (AML) standards. These changes are designed to attract compliant institutional players by improving regulatory clarity and aligning with global norms, such as FATF recommendations. Other jurisdictions, including India, have also introduced similar AML restrictions on privacy coins and transaction-obscuring services. Dubai’s updated framework signals a focus on “clean capital,” positioning the emirate as a regulated hub for serious digital asset firms and institutional investors.
