News

CoinMENA granted provisional licence in Dubai

Crypto exchangeDubai’s Virtual Assets Regulatory Authority (Vara) has issued a provisional virtual assets licence to Bahrain-based digital assets exchange CoinMENA. The move will give CoinMENA the ability to conduct business in Dubai while it applies for a full licence. Vara launched in May claiming to be the first regulator to have its headquarters in the metaverse. CoinMENA has secured two digital assets licences so far in its first year – one issued by the Central bank of Bahrain and the other in the European Union. “As a result of the provisional licence issued to CoinMENA by the authority, we will be able to expand our activities and further strengthen our banking relationships within the UAE,” said CoinMENA co-founders Talal Tabbaa and Dina Sam’an in a joint statement. “Regulatory clarity is critical for our users and investors,” added Sam’an. “This allows us to contribute to building a robust regulatory infrastructure, and enable the sustainable growth of the digital economy in the region.” ©2022 funds global mena

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