Dubai's new crypto regulator brings BitOasis under its wing

Dubai's new crypto regulator brings BitOasis under its wing

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

BitOasis, a Middle East-focused crypto exchange based in the United Arab Emirates, has received provisional approval from Dubai’s new crypto regulator, as the UAE pushes to become a centre for the virtual asset sector.

Dubai, one of the UAE‘s seven emirates and the region’s trade hub, this month issued its first law governing digital assets and formed the Virtual Asset Regulatory Authority (VARA) to oversee the sector.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter