Analysis Today TheBitTimes.com

On November 14, 2023, Crypto.com revealed that its Dubai entity, CRO DAX Middle East FZE, received a Virtual Assets Service Provider (VASP) Licence from Dubai’s Virtual Assets Regulatory Authority (VARA).  The license is contingent upon meeting specified conditions and localization requirements outlined by VARA. Operations can commence upon receiving an operational approval notice from the regulator, as per the latest information shared with Finbold. https://t.co/vCNztATkNg is proud to announce that we have been granted a Virtual Asset Service Provider Licence pending operational approval from Dubai's Virtual Assets Regulatory Authority, building on our position in the #UAE market. Learn more:https://t.co/0anXDLsxTv pic.twitter.com/SgcqSTSqux — Crypto.com (@cryptocom) November 14, 2023 Upon operational approval, the VASP Licence will enable Crypto.com to provide regulated virtual asset services, encompassing exchange, broker-dealer, management, investment, and lending ...

Crypto exchange Bitget has abandoned plans for a crypto license in Hong Kong, asking users to withdraw their assets by Dec. 13. Cryptocurrency trading platform Bitget has dropped plans to obtain a Virtual Asset Trading Platform (VATP) license in Hong Kong, citing business and market-related considerations. Bitget officially announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the domain BitgetX.hk, will cease operations by Dec. 13, 2023. As Bitget decided not to apply for a VATP license , the firm will have to permanently withdraw from the Hong Kong market, the announcement notes. The company has strongly encouraged users to withdraw crypto assets from BitgetX before Dec. 13. “After this date, the BitgetX website will no longer be accessible and you will not be able to manage or access your assets on BitgetX,” the statement noted. This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/bitget...

Singapore's Crypto.com expands its regulatory achievements by securing MPI license for DPT services from MAS. The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it has been granted a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services by the Monetary Authority of Singapore (MAS).  The announcement comes after Crypto.com received its in-principle approval from MAS in June 2022. With the MPI licence, Crypto.com is now authorized to offer its DPT services to customers in Singapore. The Monetary Authority of Singapore serves as the central bank and primary financial regulatory authority in Singapore. It is responsible for overseeing and implementing legislation related to money, banking, insurance, securities, and the overall financial industry, including the issuance of currency. This latest announcement adds to Crypto.com's track record of securing regulatory license s. Crypto.com has also achieved registration as a Di...