UAE crypto push sees Bybit, Crypto.com announce Dubai offices | Reuters
Crypto exchange Bybit on Monday said it will open its global headquarters in Dubai and crypto platform Crypto.com said it would establish a regional hub there, the latest moves in the UAE's drive to become a centre for the virtual asset sector.
Dubai, one of the UAE's seven emirates and the region's trade hub, this month issued its first law governing virtual assets and formed the Virtual Asset Regulatory Authority (VARA) to oversee the sector. read more
"Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai," the company said in a statement, adding that the headquarters is expected to commence operations in April.
Dubai this month granted virtual asset licences to Binance, the world's largest cryptocurrency exchange, and FTX Europe, a subsidiary of one of the largest crypto exchanges FTX. FTX will set up a regional headquarters in the city. read more
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