Crypto.com Scores License In Dubai, Which Continues To Be A 'Leading Market'
Portfolio Pulse from Tanzeel Akhtar
Crypto.com's Dubai business, CRO DAX Middle East FZE, has been granted a provisional license by Dubai's Virtual Assets Regulatory Authority (VARA) to provide virtual asset services. The license is contingent upon meeting certain conditions and localisation requirements. Dubai is recognized for its effective crypto regulation and support for innovation. Previously, Komainu, a venture involving Nomura (NYSE:NMR), received a similar license in Dubai.
November 14, 2023 | 3:42 pm
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Nomura Holdings, involved in the Komainu joint cryptocurrency custody venture, previously received a license to operate in Dubai, indicating a positive regulatory environment for its crypto-related ventures.
The news highlights Dubai's welcoming stance towards cryptocurrency ventures, which could benefit Nomura as it is already involved in the region through Komainu. This positive regulatory environment may lead to increased trust and business opportunities for Nomura's crypto custody services, potentially boosting investor sentiment.
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