Bitcoin (BTC) And cryptocurrencies As it continues to increase in popularity, countries are starting to approach the crypto industry positively.
Good news for cryptocurrency platforms in this context. from the United Arab Emirates (UAE) came.
The UAE’s securities regulator announced yesterday that it wants to provide cryptocurrency services in the country. crypto- He said his companies are starting to receive license applications.
UAE Securities and Commodities Authority (SCA) began receiving applications for licenses from all virtual asset service providers (VASP) companies other than those licensed in the country’s financial free zones.
In addition to the announcement, those who want to operate in the Emirate of Dubai crypto- In addition to SCA approval, companies must also obtain a license from the Virtual Assets Regulatory Authority (VARA).
The statement included the following:
“At the end of 2022, the UAE Council of Ministers issued its Resolution 111 of 11 December 2022 on the regulation of cryptocurrencies and service providers, making the Securities and Commodities Authority the body responsible for making decisions governing virtual asset transactions and licensing and operating mechanisms of service providers.
Based on these decisions, all companies that provide virtual asset services in SCA country and meet the necessary conditions (except companies licensed in financial free zones) are required to apply for a virtual asset license. “
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