As stated in the official press release, emirate authorities opened the doors to the local digital asset market for Animoca Brands. Dubai’s Virtual Assets Regulatory Authority (VARA) granted the operator a full VASP license. It permits offering brokerage services exclusively for institutional investors within the emirate.
The new status legalizes operations with large capital across Dubai, except for the Dubai International Financial Centre (DIFC) free economic zone. Direct regulatory oversight ensures the safe servicing of qualified investors without legal risks.
VARA has overseen the cryptocurrency sector of the emirate since 2022. The developer of platforms like The Sandbox, Moca Network, Open Campus now joins the agency’s list of regulated entities. The company's investment portfolio exceeds 600 startups.
Middle East Managing Director Omar Elassar considers passing the review key to establishing a confident regional presence. He states the license will serve as a reliable tool for legal collaboration with global Web3 funds within a clear regulatory framework.
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