Cryptocurrency exchange “Kraken” obtains a license to operate in Abu Dhabi
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Cryptocurrency exchange “Kraken” obtains a license to operate in Abu Dhabi
Veteran US exchange Kraken is the latest crypto firm to be licensed to operate as a virtual asset trading platform in Abu Dhabi.
With this, Kraken has followed steps previously planned by other industry giants such as Binance and FTX.
In an effort to boost cryptocurrency participation in the country, the UAE has been among the leading countries in terms of clear regulations since 2018, opening the door for many industry participants to join the region.
According to a Bloomberg report, the latest version obtained from the regulatory authority within the borders of the UAE is that of American cryptocurrency exchange Kraken.
Kraken has obtained a license to operate as a virtual asset trading platform in Abu Dhabi, in addition to this, it has established a regional headquarters in the city, with expectations confirming that the headquarters will start operating in the next few months.
Read:The first approved Bitcoin ETF in Latin America aims to raise the funding needed to start the business
The license will allow multi-million Kraken users to invest, trade, withdraw and deposit crypto assets directly in dirhams.
Binance took a similar step a few weeks ago when it received approval in principle from the Abu Dhabi supervisory authority that enabled the company to act as a broker and dealer for digital assets.
This came after the world’s largest cryptocurrency trading platform had already obtained a limited license for crypto assets in Dubai.
FTX also set its sights on the country seeking to become a global hub for cryptocurrency by announcing plans to establish a regional headquarters in Dubai recently.
Another report from last week reported that India’s strict tax legislation on cryptocurrency transactions has prompted some local trading platforms to look for a new home in Dubai as well.
Read:Crypto between Russia and Ukraine: China stands as Russia’s reliable partner amid US sanctions
Read also:
Cryptocurrency Market Loses $80 Billion as Bitcoin Falls to 40-Day Low
After El Salvador…Central African Republic Prepares to Accept Bitcoin as Legal Currency
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time