Crypto Updates Secures VASP Licence in Dubai

Dubai entity, CRO DAX Middle East FZE, has been granted a Virtual Assets
Service Provider (VASP) Licence for specified virtual asset service activities
by Dubai’s Virtual Assets Regulatory Authority (VARA).

VASP Licence, subject to the fulfillment of select conditions and localisation
requirements defined by VARA, will enable to offer regulated virtual
asset services. These services include exchange, broker-dealer, management and
investment, as well as lending and borrowing.

Kris Marszalek, CEO of, Source: LinkedIn

these offerings will be accessible to both retail and institutional users
through the App and Exchange. This follows VARA’s
issuance of specialized regulations for virtual assets in February 2023.

Marszalek, CEO of stated: “It is an incredible honor to be one
of the first crypto exchanges to be granted a Virtual Asset Service Provider
Licence by VARA, and it further proves our company’s commitment to security and
compliance.”, previously announced Dubai as its regional hub
for the Middle East and Africa in March 2022.

“Dubai continues to show it is a leading market
when designing effective regulation for the crypto space while still supporting
adoption and innovation,” he added.

Earlier secured a Minimal
Viable Product Preparatory license from Dubai’s Virtual Asset Regulatory
. That followed provisional approval granted last year and
positioned to operate within the VARA Regime. Under the
license, the exchange gains the authority to offer spot and derivatives
instruments of virtual assets, including exchange services, brokerage, margin
or leverage trading, and OTC offerings.’s
other Approvals

earlier reports, Finance Magnates
wrote that
secured a Digital Asset Service Provider license from the Dutch central
, enabling the Singapore-based exchange to offer cryptocurrency
services in the Netherlands. This adds to the company’s existing regulatory
approvals across Europe, including France and the UK.

Simultaneously, announced…

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