Cryptocurrency exchange FTX said on Friday it was fully approved to operate its exchange and clearing house in Dubai, as the Gulf emirate pushes forward with plans to develop its digital asset sector.
"Our licenceexpands to retail customers as well, however, it will be a gradual scale up to ensure that we approach the retail market within the guidelines set by the Virtual Assets Regulatory Authority ," Balsam Danhach, head of FTX Middle East and North Africa, told Reuters. The United Arab Emirates has been on a mission to become a hub for the virtual asset sector even as regulators elsewhere flag concerns over the technology.
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