Crypto.com Obtains Full Dubai Operational License
Crypto.com, a Singapore-based digital asset exchange, has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for its local entity, CRO DAX Middle East FZE. This approval allows institutional investors in the United Arab Emirates (UAE) to use the Crypto.com exchange. The full license from VARA marks the first time a global crypto operator has been approved to operate with fiat in the UAE. Crypto.com also plans to launch additional retail-user focused products. Despite facing challenges such as fines in the Netherlands, workforce cuts, and difficulties maintaining fiat on-ramps during last year's banking crisis, Crypto.com has also received approvals to operate in Singapore, France, Brazil, and the U.K.
