Fun

Nomura crypto arm Laser Digital bags Abu Dhabi license

News Feed - 2024-06-19 06:06:34

Zoltan Vardai14 hours agoNomura crypto arm Laser Digital bags Abu Dhabi licenseThe firm chose to expand into Abu Dhabi due to the innovation-friendly crypto regulations.1661 Total views4 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksNomura’s cryptocurrency arm, Laser Digital, has received a broker license in the Abu Dhabi region for both traditional and digital assets.


The Financial Services Regulatory Authority of Abu Dhabi has approved the issuance of a Financial Services Permission (FSP) license for the company, marking the end of its full licensing process with the Abu Dhabi Global Market (ADGM).


The new license will allow Laser Digital to provide broker-dealer as well as asset and fund management services for both digital and traditional assets in the region.


The company considers the licensing approval a “significant milestone,” according to Jez Mohideen, the CEO of Laser Digital. He wrote:“We are eager to contribute responsibly to the virtual asset industry in the UAE. We have always been committed to upholding the highest standards of compliance and regulations at ADGM, and we look forward to contributing to ADGM’s ecosystem.”


Related: Ethereum price to $10K is the most ‘asymmetric bet’ in crypto — AnalystUnited Arab Emirates could become the next global crypto hub due to innovation-friendly regulations


Laser Digital’s operating license comes nearly nine months after it received in-principal approval from ADGM in September 2023.


The firm chose Abu Dhabi for its expansion plans due to the innovation-friendly crypto regulations in the region, according to Laser Digital’s CEO, Mohideen, who wrote:“Laser Digital chose Abu Dhabi as its destination of choice due to ADGM’s progressive and transparent approach to regulation, based on strong cross-industry dialogue and collaboration with different sector players including the digital asset sector.”


ADGM’s chief of market development, Arvind Ramamurthy, said that the regulator is delighted to welcome more innovation-oriented crypto firms. He wrote:“We’re delighted to welcome Laser Digital as we expand our financial community to include partners such as Laser, whose offerings align with ADGM and the FSRA’s international best practices and progressive regulatory ecosystem.”


Showcasing the region’s innovation-friendly approach, the Central Bank of the UAE approved the issuance of a new stablecoin licensing and monitoring system on June 5.


Related:Bitcoin and Ether can ‘greatly improve’ portfolio performance: BBVAUAE is attracting more crypto firms


Increasingly, more crypto service providers and Web3 companies have been expanding their presence into the Abu Dhabi region, which is becoming a significant cryptocurrency hub.


At the beginning of May, crypto options trading platform QCP Capital received in-principle approval for regulated digital asset activities from the ADGM. This made QCP the first Singapore-based crypto market maker and broker to receive a preliminary license in the region.Asking Dubai Crypto Tycoons How They Got Rich. Source: Cointelegraph


Leading onchain security firm Chainalysis also set up regional headquarters in Dubai on May 8, after the firm has been “actively engaging” with local government stakeholders to offer advice on best practices for regulatory development in the crypto industry that drive innovation.


In April, the world’s largest crypto exchange by volume, Binance, received a long-awaited Virtual Asset Service Provider license in Dubai after co-founder Changpeng Zhao gave up his voting power in the exchange’s local entity.


In February, ADGM signed a memorandum of understanding with the Solana Foundation to advance the development of distributed ledger technology.


Magazine:Roaring Kitty’s GME shares hit $1B, BTC open interest soars, and other news: Hodler’s Digest, June 2–8# Cryptocurrencies# UAE# Business# Bitcoin Regulation# Adoption# Cryptocurrency Exchange# Dubai# RegulationAdd reaction

News Feed

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation
Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed"s Brainard Pushes for Strong Regulation U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chai
Brayden Lindrea6 hours agoCrypto mining ‘Ponzi’ co-founder sentenced to 12 years in prisonConvicted fraudster Pablo Renato Rodriguez must also serve three years of supervised release after he finishes his 12-year pri
Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance
Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000.
Tristan Greene6 hours agoBreaking: Binance’s CZ to plead guilty to violating Anti-Money Laundering requirements — WSJChangpeng Zhao reportedly plans to plead guilty to violating U.S. Anti-Money Laundering requirement
Altcoins will bottom in early summer before bull run — Analyst
Zoltan Vardai3 hours agoAltcoins will bottom in early summer before bull run — AnalystAn altcoin bull run would first require Bitcoin to break out from its current range, according to Nansen’s principal research anal
HectorDAO files for Chapter 15 bankruptcy in the US
Vince Quill3 hours agoHectorDAO files for Chapter 15 bankruptcy in the USThe decentralized autonomous organization was first impacted by the collapse of the Terra ecosystem in 2022 and suffered $16.4 million in losses.38
Renowned Investor Jim Rogers Warns Governments Want to Control Crypto — ‘They Want to Regulate Everything’
Renowned Investor Jim Rogers Warns Governments Want to Control Crypto — "They Want to Regulate Everything" Veteran investor Jim Rogers, who co-founded the Quantum Fund with billi
Here’s How to Purchase Your First NFT Domain on Quik․com
Here"s How to Purchase Your First NFT Domain on Quik․com sponsored Minting of NFT domains with exclusive TLDs like .chain, .metaverse, .vr, .doge, .shib, .bored is now live on the
Liza Savenko32 minutes agoHow to buy Bitcoin with Cash appA step-by-step guide to buying Bitcoin on Cash App, including guidance on fees, the auto invest feature and security tips to empower your cryptocurrency investmen
Meta burns another $4.5B on metaverse in Q2, preps for AI growth
Tom Mitchelhill4 hours agoMeta burns another $4.5B on metaverse in Q2, preps for AI growthMeta’s share price popped 7% in after-hours trading following a better-than-expected Q2 earnings call.1098 Total viewsListen to
Kucoin Labs Launches $100 Million Metaverse Investment Fund
Kucoin Labs Launches $100 Million Metaverse Investment Fund Kucoin Labs, the investigative and investment arm of Kucoin, a cryptocurrency exchange, has launched a $100 million fund
Largest US Banks Expect Billions in Loan Losses, Profits Plunge
Largest US Banks Expect Billions in Loan Losses, Profits PlungeSeveral of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from lo