On October 10, OKX CEO Star said at the theme event "Dubai's New Choice: OKX and the Future of Blockchain Innovation" held at the Dubai Museum of the Future that OKX has reached an important milestone by obtaining the world's first full operating license from the Dubai Virtual Asset Regulatory Authority VARA. This achievement is the result of OKX's commitment to establishing sound compliance standards. We follow FATF guidelines globally and comply with VARA regulations in the UAE. This full operating license demonstrates the trust and confidence of regulators in the OKX team. We believe that this is not just a marketing asset, but also a great responsibility for us to maintain high standards in the crypto industry.
It is reported that OKX has officially launched an exchange in the UAE and obtained a full operating license from VARA. The VARA full operating license is issued by an agency established by the Dubai government of the United Arab Emirates, which is specifically responsible for regulating the operation and development of the virtual asset (such as cryptocurrency) industry. Companies that obtain a full operating license from VARA need to meet a series of compliance requirements, including anti-money laundering (AML), customer due diligence (CDD), and other risk management measures. Therefore, holding a VARA license means that the company has reached a high standard in compliance, transparency and market regulations.