eToro Receives Approval to Operate in UAE

eToro’s foray into the UAE comes amidst a period of global expansion for the platform. The retail and social trading giant eToro recently announced that it has received a license from the Abu Dhabi Global Market (ADGM) to operate as a broker in securities, derivatives, and crypto assets in the United Arab Emirates (UAE). eToro Bags Significant License Yoni Assia, the Founder and CEO of eToro, expressed his enthusiasm, stating: “It is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognized as a growing fintech hub, and…

Dutch exchange Bitvavo cleared to operate in France

Netherlands-based cryptocurrency exchange Bitvavo is set to expand its services to French users after successfully registering as a digital asset service provider with France’s Autorité des Marchés Financiers (AMF). The expansion into France comes just weeks after Bitvavo secured regulatory approval to offer its services in Austria. The exchange expanded its offering to Italy in 2022 and has filed registration applications for other major European markets.  “Securing registration with the French AMF marks a pivotal moment for us. We are excited about bringing our consumer-focused offering to the French market,”…

Crypto.com Gets Licence to Operate Specified Services in Dubai

The exchange will then get operational approval to provide “exchange services, broker-dealer services, management and investment services, and lending and borrowing services.” The Singapore-based exchange completed its licensing process in Singapore in June and has had regulatory victories in the Netherlands, U.K., France and Brazil. However, it has also suffered workforce cuts and difficulty maintaining fiat on-ramps during the recent banking crisis. Source

MAS Gives Initial Approval for Upbit to Operate in Singapore

With the license, Upbit will now be able to offer digital payment token services to institutional investors. However, it still awaits a full MPI license from the MAS. Upbit, South Korea’s largest exchange in terms of volume, has achieved in-principle approval for a Major Payment Institution (MPI) license in Singapore through its Singapore entity. On October 16, Upbit Singapore announced that the Monetary Authority of Singapore (MAS) granted the in-principle license. This will enable them the provision of offering digital payment token services to institutional investors while the full license…

Coinbase Receives Full Regulatory Approval to Operate in Singapore

With the license approval, Coinbase has now joined the ranks of other crypto companies with full licenses, demonstrating the country’s commitment to fostering a vibrant and well-regulated digital assets ecosystem. Leading American cryptocurrency exchange Coinbase has been granted an operational license in Singapore through its subsidiary to service its customers in the region legally. On October 1, Coinbase announce it received a regulatory nod from the country’s central bank, the Monetary Authority of Singapore (MAS), to operate as a Major Payment Institution (MPI) company. This regulatory milestone allows the US-based…

Architect fintech receives NFA approval to operate as introducing broker

Architect Financial Technologies, the startup founded by former FTX US president Brett Harrison, will provide derivatives brokerage services following its Architect Financial Derivatives subsidiary receiving approval from the National Futures Association (NFA) to operate as an independent introducing broker. The company is eyeing both the cryptocurrency derivatives market and the traditional market, Harrison said. An introducing broker is an NFA member that “solicits or accepts orders to buy or sell futures contracts, commodity options, retail off-exchange forex contracts, or swaps” but does not receive money from customers for doing it.…

We need to fundamentally change how smart contracts operate

Smart contracts have reshaped the possibilities of what blockchain and crypto can achieve, and we can all acknowledge that. That doesn’t mean they’re the be-all-end-all solution to widespread adoption. Being overzealous about any kind of innovation can also contribute to its stalling, or even failure if other factors don’t align. The mentality of assuming new technology is perfect and wondering why everyone hasn’t caught up to its genius is outdated. Not only does it create an adversarial relationship when inevitabilities, such as regulation, arise, but it also diminishes the motivation…

Crypto Exchange Rain Obtains License to Operate Virtual Asset Brokerage, Custody Service in UAE

“Today, Rain is launching in the UAE, as the first licensed retail exchange,” Joseph Dallago, CEO and co-founder of the Bahrain-based company, tweeted on Tuesday. “This is a 5 year effort, as we were one of the first exchanges to enquire about licensure back in 2018, when the ADGM released their virtual asset framework,” referring to the Abu Dhabi Global Market financial freezone. Source

Ripple Gets In-Principle Regulatory Approval to Operate in Singapore

The license will allow Ripple to provide better support to its “forward-looking customers”, as well as facilitate the process of building a “more inclusive and borderless financial system”.  Blockchain solutions provider Ripple has been granted in-principle approval of the Major Payments Institution License from the Monetary Authority of Singapore (MAS). As a result, its subsidiary in Singapore – Ripple Markets APAC Pte Ltd – is one of a few companies that can operate in the country and offer regulated digital payment token products and services to citizens. Ripple CEO Brad Garlinghouse commented: “Singapore…