OKX Middle East has officially obtained the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Asset Regulatory Authority (VARA), allowing it to expand its range of approved regulated virtual asset activities.
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OKX, a leading virtual asset exchange and Web3 technology company, announced today (16th) that its affiliated company in the Middle East, OKX Middle East, has officially received the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Asset Regulatory Authority (VARA).
The license will come into effect for OKX Middle East after it meets all the remaining conditions and specific localization requirements specified by VARA. At that time, OKX Middle East will officially commence operations after review and approval by regulatory authorities.
Once operations begin, the VASP license will allow OKX Middle East to expand its range of approved regulated virtual asset activities and provide spot trading services to institutions and qualified retail customers through the OKX app and the official website of OKX Exchange (OKX.com).
OKX is committed to maintaining sound investor and market protection principles, and users who conduct transactions on the OKX Middle East platform regulated by VARA in Dubai will enjoy a higher level of protection.
Rifad Mahasneh, General Manager of OKX Middle East and North Africa, stated:
Tim Byun, Global Head of Government Relations at OKX, stated:
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