Dubai Grants Regulatory Approval for Blockchain.com Office: Report

Dubai Virtual Assets Regulatory Authority previously gave approval to Crypto.com, OKX and FTX affiliates to offer related services to cryptography in the emirate.

Blockchain wallet and cryptocurrency exchange platform Blockchain.com has reportedly obtained regulatory approval from Dubai's Virtual Assets Regulatory Authority, or VARA.

According to a Friday report from Reuters, VARA has signed an agreement that will allow Blockchain.com to open an office in Dubai. The crypto company currently operates several offices in North America, Europe, South America and Singapore.

Great team work here - Dubai ✅✅https://t.co/8nQm8w8y3g

— Peter Smith (@OneMorePeter) September 9, 2022

Since the Prime Minister and ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, announced the creation of the crypto regulator and an accompanying law in March, VARA has licensed Crypto.com subsidiaries, OKX and FTX to offer crypto-related services in the emirate. In July, Al Maktoum also launched a metaverse strategy aimed at bringing over 40,000 virtual jobs to Dubai by 2030.

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