OKX becomes first crypto platform to receive full UAE operating license
On October 10, 2024, OKX, a global on-chain technology company, announced today that it has officially launched in the UAE and obtained an operating license.

On October 10, 2024, OKX, a global on-chain technology company, announced today that it has officially launched in the UAE and obtained an operating license.
Bybit has secured a provisional license from Dubai’s VARA, signaling progress toward full licensing and strengthening its position in the global crypto market. The company is also expanding in Hong Kong to tap into the growing Asia-Pacific market, reflecting its broader strategy to enhance its global presence.
Deribit, the world’s largest cryptocurrency options exchange, is set to establish its global headquarters in Dubai following the granting of a conditional virtual asset service provider license by the Virtual Asset Regulatory Authority (VARA). This move signifies a strategic shift in the company's operations, with plans to cater primarily to institutional investors. Additionally, Deribit has announced leadership changes and intends to pursue further expansion in the European market by seeking an EU brokerage license. Despite these developments, the operational status of the Dubai exchange is contingent upon meeting VARA's requirements, which could potentially lead to delays.
Crypto.com's Dubai entity receives a Virtual Assets Service Provider (VASP) license from Dubai's regulator, subject to operational approval. Once approved, CRO DAX Middle East FZE can offer various services, contributing to Dubai's growing crypto industry.
Komainu, a collaborative venture in the cryptocurrency custody sector involving Nomura, Ledger, and CoinShares, has successfully acquired an operating license from Dubai's Virtual Asset Regulatory Authority (VARA).
The market alert issued by VARA states that BitOasis is being reviewed for failing to meet the mandated conditions required for VARA-regulated market activity within the specified 30-60 day timeframes. Earlier this year, BitOasis was granted Dubai's "minimum viable product operational license," but the regulator may now rescind that license.
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