๐ ๐๐ ๐ฐ๐ถ๐๐ถ๐ป๐ด ๐ก๐ฒ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐๐ฏ๐ฎ๐ถ'๐ ๐๐ฟ๐๐ฝ๐๐ผ ๐ฆ๐ฐ๐ฒ๐ป๐ฒ! ๐
VARA, Dubai's crypto watchdog, has set a deadline of November 17 for crypto companies to complete their registration, marking a pivotal moment in the city's crypto regulations journey. Failure to meet this deadline could result in sanctions for virtual asset service providers (VASPs).
๐ Over 1,000 applications have flooded in since the announcement, showcasing the industry's eagerness to comply with the new regulations. This surge in interest comes after Dubai implemented crypto-related regulations in February, prompting a wave of companies to either establish offices or relocate their operations to this dynamic city.
๐ข Major players like Coinbase have recognized Dubai's potential, with CEO Brian Armstrong revealing plans to invest and establish an office in the city. Other leading exchanges have also secured licenses, and Ripple recently received the green light, further solidifying Dubai as a crypto hub.
๐ But that's not all โ brace yourself for the world's first "Bitcoin Tower," a testament to Dubai's commitment to being at the forefront of crypto innovation.
๐ With the November 17 deadline approaching, the crypto world eagerly anticipates the impact of Dubai's regulatory framework on shaping the future of blockchain and virtual assets in this futuristic city! ๐๐ผ
