Blockchain wallet and cryptocurrency exchange platform Blockchain.com has reportedly secured regulatory approval from Dubai’s Virtual Assets Regulatory Authority, or VARA.
According to a Friday report from Reuters, VARA signed an agreement which will allow Blockchain.com to open an office in Dubai. The crypto firm currently operates several offices in North America, Europe, South America, and Singapore.
Great work by the team here - Dubai https://t.co/8nQm8w8y3g
— Peter Smith (@OneMorePeter) September 9, 2022
Since Dubai’s prime minister and ruler Sheikh Mohammed bin Rashid Al Maktoum announced the establishment of the crypto regulator and an accompanying law in March, VARA has granted approval for Crypto.com, OKX and FTX subsidiaries to offer crypto-related services in the emirate. In July, Al Maktoum also launched a metaverse strategy that aimed to bring more than 40,000 virtual jobs to Dubai by 2030.
Related: From the valley to oasis: Swiss and Dubai crypto associations team up
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