Dubai has stepped up its bet on crypto services after regulatory authorities granted the first cryptocurrency trading license in the emirate's market.
BitOasis, a UAE-based cryptocurrency exchange in the Middle East and North Africa, announced that it has received an operational license for applicable products, the first license a brokerage and trading firm has received from Dubai's Virtual Assets Regulatory Authority. The move comes after the expiry of the deadline set by the Dubai Virtual Assets Regulatory Authority to provide companies wishing to practice this activity with initial disclosure questionnaires, which represents the first step towards regulating this market.
Source (Al-Arab Newspaper of London, Edited)
