fbpx
Skip to content Skip to sidebar Skip to footer

Blockchain.com Receives Approval From Dubai to Set Up Office

Dubai’s Virtual Assets Regulatory Authority (VARA) has been reported to have granted regulatory approval to Blockchain.com, a platform for blockchain wallets and cryptocurrency exchange.

Reuters reported that VARA had signed a contract that enabled Blockchain.com to establish its base of operation in Dubai. Currently, the crypto company has offices all over Europe, North America, Singapore and South America.

Crypto.com, OKX, and FTX subsidiaries were granted approval by VARA to offer crypto-related services in the emirate, after Dubai’s prime minister and ruler Sheikh Mohammed bin Rashid Al Maktoum announced the formation of the crypto regulator and a corresponding law in March. 

In addition, Al Maktoum unveiled a metaverse strategy in July with an aim to create over 40,000 virtual jobs in Dubai by the year 2030.

Blockchain.com, one of the first London-based Bitcoin infrastructure firms, is striving for regulatory approval in France, Italy, Spain, and The Netherlands. 

The Cayman Islands Monetary Authority gave Blockchain.com an official go-ahead to run an exchange and offer custodial services. The crypto firm was allegedly valued at $14 billion following the March funding round.

Leave a comment

About NewsFirstLine

NewsFirstLine is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020-2023}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About NewsFirstLine

NewsFirstLine is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in blockchain, crypto, Web3, fintech and technology.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us