My Learnlist: Coming Soon!
My Learnlist: Coming Soon!

Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature!

Notify Me!
Portfolio: Coming Soon!
Portfolio: Coming Soon!

Set your wallet & get powerful insights backed by data. Easily learn how to use it for your highest rewards!

Notify Me!

Dubai VARA Grants Crypto Exchange MVP Preparatory License

Dubai VARA Grants Crypto Exchange MVP Preparatory License

Crypto exchange is stepping into Dubai with a preparatory license for the VARA. received a nod from Dubai regulators after completing the preparatory groundwork to offer a comprehensive range of institutional services.

According to the announcement, was granted the minimal viable product (MVP) preparatory license following a thorough review of the crypto exchange by the Dubai Virtual Asset Regulatory Authority (VARA).

What Does Staking Mean in Crypto? (Easily Explained!)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What Does Staking Mean in Crypto? (Easily Explained!)

What Does Staking Mean in Crypto? (Easily Explained!) What Does Staking Mean in Crypto? (Easily Explained!)

The regulator conducted a full review of personnel, internal governance as well as the exchange’s procedures for countering Anti-Money Laundering (AML) and terrorism financing.

Furthermore, the regulator also gained insights into’s procedures and policies regarding Know Your Customer (KYC), ultimate beneficial owner, and cross-border safety measures.

The license allows to "fulfill all pre-conditions required to undertake MVP market operations" under the VARA regulations.

Once the license is operational, will be allowed to offer a full-suit of its exchange services. This includes brokerage, margin, or leverage trading and over-the-counter (OTC) offerings for its institutional investors.

This preparatory phase operations license came after had obtained provisional approval from the Dubai regulator in 2022.

According to Dubai regulatory rules, no company is allowed to carry out virtual asset activity through promotions and offers in Dubai unless it is authorized and licensed by VARA.

When talking about the license, CEO Kris Marszalek stated:

This achievement is the next significant step for in an incredibly important market for our business and industry. With the MVP preparatory license, we look forward to continuing to work with regulators in providing customers the most comprehensive and secure crypto experience.

VARA's CEO Henson Orser also celebrated the news claiming that will help Dubai's regulator to "further <their> mission of delivering a progressive and future-focused regulatory framework.”

At the beginning of February, VARA published guidelines for virtual asset service providers (VASPs) operating in the Emirates, dubbed "Virtual Asset and Related Activities Regulation 2023."


Watch short courses, learn about trending crypto projects & get huge rewards!

Claim Your Rewards
Learnoverse Astra Learnoverse Astra


Earn Huge Exclusive Binance Learners Rewards