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.
WeatherlyDeribit, 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.
BerniceKomainu, 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).
BrianWhile the founders and CEO have settled their fines, VARA reported that OPNX is yet to make the required payment, potentially leading the regulator to take further measures against the platform.
SnakeThe 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.
Coinlive This latest approval highlights Bybit's continued commitment to expanding its presence in emerging and dynamic markets.
OthersBybit is the latest crypto exchange to slash a sizeable portion of its workforce.
OthersHuobi and Bybit have publicly provided their proof of reserves to assure investors.
Beincrypto"Bybit responded to the OSC’s enforcement action, maintained an open dialogue, provided requested information, and committed to engaging in registration discussions," said the OSC.
CointelegraphThe function enables users to speculate on future prices of cryptos and settle their trades using USDC.
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