Blockchain.com receives approval to open Dubai-based office: Report
Blockchain wallet and exchange platform Blockchain.com has reportedly received regulatory approval from the entity Dubai’s Virtual Assets Regulatory Authority (VARA), as reported by Cointelegraph.
According to Cointelegraph, following a recent report from Reuters, VARA has signed an agreement to allow Blockchain.com’s office opening in Dubai. The cryptocurrency firm is currently functional in North America, Europe, South America and Singapore, with offices in all locations.
Based on information from Cointelegraph, since Dubai’s Prime Minister and Ruler Sheikh Mohammed bin Rashid Al Maktoum announced a cryptocurrency regulator and along with it a law in March, VARA has granted approval for companies such as Crypto.com, OKX and FTX subsidiaries to provide cryptocurrency- oriented services in the country. In July, Al Maktoum unveiled a metaverse technique to create more than 40,000 virtual jobs in Dubai by the year 2030.
Also, Cointelegraph noted that one of the oldest Bitcoin (BTC) infrastructure firms and headquartered in London, Bitcoin.com expects to have regulatory approval in countries such as Italy, France, Spain, Netherlands, among others. In August, the Cayman Islands Monetary Authority officially announced the authorization of Blockchain.com to operate an exchange and provide custody services. After a funding round completed in March, the cryptocurrency firm had a reported value of $14 billion.
Going beyond Cointelegraph’s website, founded in 2013, it is a digital media resource that covers a range of news on blockchain technology, cryptocurrency assets and new financial technology (fintech) trends, as they aim to deliver news from both the decentralized and centralized worlds. Their editorial content is based on delivering news, analysis, cryptocurrency price charts, opinion pieces, as well as reports on the transformation that digital currencies bring. The publication believes that the decentralized world will grow and become a part of our lives, as they intend to help educate readers and raise awareness of the intricacies and benefits offered in today’s digital revolution.
(With insight from Cointelegraph)
Also read: DBS partners with The Sandbox to launch DBS BetterWorld, to demonstrate the utility of the metaverse
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