Cryoto Currency

UAE regulator revokes FTX license amid the trade collapse By Cointelegraph


UAE regulator revokes FTX license amid the trade collapse

Because the FTX debacle nonetheless creates waves within the crypto trade and past, the Dubai Digital Belongings Regulatory Authority (VARA) has suspended the license which permits FTX to make preparations to service the native market.

In an announcement posted on its official web site, VARA talked about that it has revoked the approval of FTX MENA’s Minimal Viable Product (MVP) license. Citing the chapter submitting of FTX-related entities together with FTX trade and Alameda Analysis, VARA confirmed that FTX MENA’s license was suspended earlier than any purchasers had been uncovered.