On Monday, Dubai’s crypto authority granted BitOasis the first broker-dealer minimum viable product operating license.
As the UAE strives to become a global virtual asset hub, Dubai’s Virtual Asset Regulatory Authority (VARA) was established in March 2022 to regulate the sector.
VARA licenses enterprises gradually. BitOasis is the first broker-dealer to complete the MVP stage. VARA’s website states that no FMP business has been licensed.
BitOasis announced it may now offer broker-dealer services to eligible retail and institutional investors from its Dubai headquarters under VARA’s regulatory environment.
“The VARA ecosystem aims to strike a balance between value creation, risk mitigation, and enhanced investment opportunities with consumer protection at its core,” stated VARA CEO Henson Orser.
