Dubai’s crypto regulator gave BitOasis the first broker-dealer minimum viable product operating license Monday.
Dubai’s Virtual Asset Regulatory Authority (VARA) was founded in March 2022 to govern the industry as the UAE seeks to become a virtual asset powerhouse.
VARA licenses businesses slowly. BitOasis completed MVP first.
VARA’s website says no FMP firm is licensed.
VARA’s regulatory framework allows BitOasis to offer broker-dealer services to qualifying retail and institutional clients from its Dubai headquarters.
“The VARA ecosystem aims to strike a balance between value creation, risk mitigation, and enhanced investment opportunities with consumer protection at its core,” said CEO Henson Orser.
