OKX’s subsidiary in Dubai has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services. While the license has been granted, OKX emphasized that it remains “non-operational” until it fulfills the regulator’s requirements. The company aims to complete the necessary steps and anticipates becoming operational in a few months. Once active, OKX Middle East will offer regulated VASP services, including spot and fiat trading services, AED deposits and withdrawals, and spot trading pairs for both retail and institutional users. Dubai’s ruler approved a virtual assets law in March 2022, providing a legal framework for crypto in the region. (Source: Cointelegraph)
