Close Menu
    What's Hot

    XRP May Be Preparing for a Significant Rally Despite Lackluster ETF Response

    Jun. 18, 2025

    Compliance as a Catalyst: Essential for Widespread Adoption and the Future of Cryptocurrency Opinion

    Jun. 18, 2025

    Justin Sun and Trump: A Billion-Dollar Cryptocurrency Partnership Founded on Business Deals and Dinners

    Jun. 18, 2025
    Facebook X (Twitter) Instagram
    X (Twitter) Telegram
    ETHDailyETHDaily
    Subscribe
    • Home
    • News
      • Altcoin
      • Bitcoin
      • Blockchain
      • DeFi
      • Ethereum
      • Metaverse
      • NFT
      • Regulation
    • Opinion
    • Markets
    • Featured Articles
    • All Posts
    ETHDailyETHDaily
    Home » Dubai’s VARA grants conditional VASP license approval, paving the way for HashKey MENA’s expansion
    News Regulation

    Dubai’s VARA grants conditional VASP license approval, paving the way for HashKey MENA’s expansion

    By adminJan. 13, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest Reddit Telegram LinkedIn Tumblr VKontakte WhatsApp Email
    Dubai's VARA grants conditional VASP license approval, paving the way for HashKey MENA's expansion
    Dubai's VARA grants conditional VASP license approval, paving the way for HashKey MENA's expansion
    Share
    Facebook Twitter Reddit Pinterest Email

    What does the recent approval from Dubai’s VARA mean for HashKey MENA FZE’s expansion and compliance strategies?

    HashKey Group, a digital asset service firm in Asia, announced in their press release on Jan. 13 that their Middle East and North Africa subsidiary has received conditional acceptance for its Virtual Asset Service Provider license application from the Dubai Virtual Assets Regulatory Authority.

    If HashKey can obtain the VASP license, the group’s MENA FZE can offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services to retail, qualified, and institutional investors, both in and out of the Emirate of Dubai.

    This green light will also likely be a win for HashKey OTC, the Group’s over-the-counter trading arm, with expanded regulated activities across the Middle East, the press release notes.

    VARA, the regulatory body overseeing virtual assets in both Dubai’s free zone and the mainland, has several main objectives. These include maintaining the Emirate’s competitive position in the digital economy, developing regulations, and protecting investors by curbing illegal practices.

    According to the rulebook administered by VARA, a company’s permit must comply with VARA’s prescribed actions and conditions to maintain validity. Furthermore, if activities exist beyond Dubai, the organization has to comply with the higher standards implemented either locally or abroad. HashKey must meet all criteria to secure the official VASP license.

    HashKey’s global compliance strategy

    Since embarking upon its mission to spread digital asset opportunities across Asia in 2018, HashKey Group has established offices supporting financial technologies in various locations around the world, such as Hong Kong, Singapore, Japan, and Bermuda.

    Earlier this month, on Jan. 7, HashKey Group expanded into the Irish market. HashKey Europe Limited, a member of the HashKey Group, received VASP registration approval from the Central Bank of Ireland.

    This approval marks HashKey Group’s first VASP license in the EU and ensures full compliance with the EU’s Fifth Anti-Money Laundering Directive. It allows HashKey Europe Limited to offer a variety of regulated services, including exchanges between virtual and fiat currencies, transfers of virtual assets, and custodian wallet services.

    In addition to expanding its operations, HashKey Group is actively seeking a Markets in Crypto-Assets license to solidify its footprint in European markets.

    On December 30, 2024, the European Union fully implemented the MiCA framework, establishing a unified set of rules for the crypto industry across member states. This was in response to ongoing issues such as fraud, market instability, and a lack of strong investor protection, which have long plagued the growing crypto space.

    The platform recently launched the Hashkey Platform Token (HSK), which reached an all-time high of $2.59 on December 20, 2024. As of Jan. 13, HSK is trading at $1.76, reflecting a 7.03% decrease in price over the last 24 hours.

    Share. Facebook Twitter Pinterest LinkedIn Reddit Email
    Previous ArticleSolv Protocol Introduces solvBTC with BERA Enabling BTC Yield on Berachain
    Next Article Reasons behind ai16Z’s 35% surge today

    Related Posts

    XRP May Be Preparing for a Significant Rally Despite Lackluster ETF Response

    Jun. 18, 2025

    Compliance as a Catalyst: Essential for Widespread Adoption and the Future of Cryptocurrency Opinion

    Jun. 18, 2025

    Justin Sun and Trump: A Billion-Dollar Cryptocurrency Partnership Founded on Business Deals and Dinners

    Jun. 18, 2025

    Meta Pool Exploited for $133K After Attacker Mints Tokens Valued at $27 Million

    Jun. 18, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Opinion Unlocking Crypto Wallets Without Private Keys or Seed Phrases

    Sep. 5, 202492 Views

    EU Exchanges Ditching Stablecoins Is This the End for Stablecoins

    Jun. 21, 202415 Views

    Reasons behind ai16Z’s 35% surge today

    Jan. 14, 202510 Views
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Don't Miss
    DeFi

    XRP May Be Preparing for a Significant Rally Despite Lackluster ETF Response

    Jun. 18, 2025

    XRP Price Continues to Decline Despite ETF ApprovalXRP price continued to slide for the second strai…

    Compliance as a Catalyst: Essential for Widespread Adoption and the Future of Cryptocurrency Opinion

    Jun. 18, 2025

    Justin Sun and Trump: A Billion-Dollar Cryptocurrency Partnership Founded on Business Deals and Dinners

    Jun. 18, 2025

    Meta Pool Exploited for $133K After Attacker Mints Tokens Valued at $27 Million

    Jun. 18, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    About Us
    About Us

    ETHDaily is your daily cryptocurrencies nutrition and more. Stay updated with the latest insights, developments of cryptocurrencies.

    X (Twitter) Telegram
    Most Popular

    Opinion Unlocking Crypto Wallets Without Private Keys or Seed Phrases

    Sep. 5, 202492 Views

    EU Exchanges Ditching Stablecoins Is This the End for Stablecoins

    Jun. 21, 202415 Views

    Reasons behind ai16Z’s 35% surge today

    Jan. 14, 202510 Views
    © 2025 ETHDaily All rights reserved.
    • Home
    • Markets
    • News
    • Opinion
    • Featured Articles

    Type above and press Enter to search. Press Esc to cancel.