According to Foresight News, the Virtual Asset Regulatory Authority (VARA) in Dubai has granted a Virtual Asset Service Provider (VASP) license to cryptocurrency service provider CoinMENA. The parent company of CoinMENA, CoinMENA B.S.C. (c), is headquartered in Bahrain and has already received permission from the Central Bank of Bahrain (CBB) to operate as a cryptocurrency service provider.
The VASP license from VARA will enable CoinMENA to expand its services in the Dubai market, providing customers with a regulated and secure platform for trading and investing in cryptocurrencies. This development highlights the growing interest and adoption of digital assets in the Middle East region.