Secures VASP Crypto License from Dubai Regulator to offer regulated virtual asset services in Dubai after securing VARA’s VASP License. mascot lion confident in sunny Dubai.
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  • has won a new crypto license in Dubai.
  • The exchange will offer regulated crypto services upon approval.
  • Dubai’s crypto policy continues to foster adoption and innovation.

To solidify its presence in the United Arab Emirates (UAE), cryptocurrency exchange is eyeing becoming one of the first firms to offer a range of crypto services under Dubai’s Virtual Assets Regulatory Authority (VARA).

On November 14, the company announced that its Dubai entity, CRO DAX Middle East FZE, has secured VARA’s Virtual Assets Service Provider (VASP) License after fulfilling select conditions and localization requirements.

Crypto.Com to Offer Regulated Crypto Services in Dubai

According to the press release, will be up and running in Dubai once VARA grants the company operational approval. Once approved, the VASP License will allow to offer a range of regulated crypto services to both retail and institutional users via the App and Exchange.


These services include broker-dealer, exchange, management, investment, and lending and borrowing services. CEO Kris Marszalek welcomed the new license, noting that it underscores the company’s commitment to security and compliance in the digital assets industry.

It is an incredible honor to be one of the first crypto exchanges to be granted a Virtual Asset Service Provider Licence by VARA.” Marszalek stated, adding,” We are excited to showcase more of our industry-leading products to customers across permissible jurisdictions from Dubai.”

The CEO also lauded Dubai as a leading market with effective crypto regulation policies that foster adoption and innovation.

Dubai’s Crypto Policy

In furthering the vision for a borderless economy, Dubai established VARA under Law No.4 of 2022 to regulate, supervise, and oversee all virtual asset services and activities in the Emirate.


On February 7, VARA issued its Virtual Assets and Related Activities Regulations 2023, a custom-designed framework covering seven regulated crypto activities, including advisory services, broker-dealer services, custodial services, exchange services, lending and borrowing services, payments and remittances services, and VA management and investment services.

Read how Binance expanded to the UAE with Dubai’s crypto-friendly policy:
Binance Expands in Crypto-Friendly Dubai Amid Global Regulatory Scrutiny

Stay updated on Ripple’s traction in Dubai:
Ripple Thrives in Dubai Despite Ongoing SEC Lawsuit Case

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.