Dubai has granted licenses to several crypto exchanges such as OKX, Rain and Binance. Laser’s Virtual Asset Service Provider (VASP) license comes after VARA made the scrutiny of crypto license seekers stricter earlier this year. The authorities in Dubai made the decision as the crypto industry witnessed the collapse of several large crypto exchanges, including FTX. The acquisition of a crypto license has seen Laser Digital join a growing list of firms that are trying to establish themselves in the UAE’s crypto market. Several major crypto exchanges such as OKX, Rain and Binance have secured crypto licenses in Dubai in the last few months.

Source: The North Africa Journal August 01, 2023 13:35 UTC