Bitcoin Exchange CoinMENA Receives Operating License From Dubai’s VARA A subsidiary of the Bahrain-based Bitcoin exchange,
CoinMENA FZE, has been granted a Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Asset Regulatory Authority (VARA). This marks the seventh
VASP license issued by the Dubai regulator.
In a press release,
the exchange announced that this significant milestone will enhance accessibility to the crypto market in the United Arab Emirates (UAE). Before obtaining the VASP license,
CoinMENA catered to UAE-based residents from its headquarters in the Kingdom of Bahrain, where it is licensed as a crypto asset service provider (category 3)
by the Central Bank of Bahrain (CBB). Now,
customers in the region will benefit from local banking services in their crypto trading endeavors. Additionally, licensing the platform’s operations in the country enables
CoinMENA customers to enjoy instant money deposits and withdrawals.
