Breaking News
Investing Pro 0
Free Webinar - Crude Oil Trading 2023 | Thursday, February 9, 2023 | 01:00PM PST Enroll Now

Crypto Firm Q9 Gets Provisional Authorization To Operate in Dubai

Cryptocurrency Oct 27, 2022 12:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Crypto Firm Q9 Gets Provisional Authorization To Operate in Dubai

  • Q9 Capital received an interim virtual asset approval from VARA.
  • The firm can now provide investors and institutions with digital asset exchange services.
  • The subsidiaries of Crypto.com, OKX, and FTX are now authorized to offer services in Dubai.

The Dubai Virtual Asset Regulatory Authority (VARA) granted temporary virtual asset approval to Q9 Capital, a cryptocurrency investing platform headquartered in Hong Kong.

In addition to announcing its expansion into the United Arab Emirates (UAE), the company has sought a complete operating license. According to a press release from Q9 dated October 27, the company will build a regional hub in Dubai and begin offering services to eligible investors and financial service providers after receiving a full operating license.

Q9 Capital has been operating in the cryptocurrency market since September 2017 and offers a suite of products and services such as investment advisory, trading, custody, and settlement.

The Dubai Virtual Asset Regulatory Authority was established in June 2018 to regulate the virtual asset industry in Dubai. The authority has been working with various stakeholders to develop a regulatory framework for the sector. It is currently consulting financial institutions on how best to integrate virtual assets into their businesses.

The crypto platform now has the legal ability to open offices and offer digital asset exchange services to pre-qualified investors and financial institutions, thanks to the temporary clearance from VARA. Q9 also has offices in Limassol, London, and Hong Kong.

A managing partner at Q9, James Quinn, indicated the readiness of his organization to adhere to all legal requirements:

We look forward to participating in the authority’s robust compliance framework and continue building partnerships as we expand our presence in Dubai to roll out additional services and enhanced products for the region

Since Sheikh Mohammed bin Rashid Al Maktoum, the Prime Minister and Ruler of UAE, announced the creation of the cryptocurrency regulator and an accompanying law in March. VARA has given the go-ahead for the subsidiaries of Crypto.com, OKX, and FTX to provide cryptocurrency-related services in Dubai.

Al Maktoum also unveiled a metaverse strategy in July to create more than 40,000 virtual jobs in Dubai by 2030.

The post Crypto Firm Q9 Gets Provisional Authorization To Operate in Dubai appeared first on Coin Edition.

See original on CoinEdition

Crypto Firm Q9 Gets Provisional Authorization To Operate in Dubai
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email