Animoca Brands Secures VASP License in Dubai Amid Regulatory Changes
- Animoca Brands has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
- The license allows Animoca to offer broker-dealer and asset management services to institutional and qualified investors in Dubai.
- Dubai’s DFSA recently banned privacy tokens from DIFC-licensed exchanges, citing anti-money laundering risks.
- India, the EU, and Hong Kong have also restricted or effectively banned privacy coins in regulated markets.
Animoca Brands’ acquisition of the VASP license marks a significant step for the company as it expands its operations in the Middle East, aligning with Dubai’s efforts to enhance its digital asset regulatory framework. The move comes amid global trends towards stricter regulations on privacy tokens due to money laundering concerns.
This licensing highlights Dubai’s commitment to developing a robust regulatory environment for digital assets while ensuring compliance with international standards, making it an attractive hub for institutional investors and companies like Animoca Brands. (Source)
