spot_imgspot_imgspot_img

Japanese Financial Giant Nomura Obtains Cryptocurrency License in Dubai

  • Due to the business-friendly and low-tax regulatory environment in Dubai, crypto exchanges like Binance have applied for permission to operate there.
  • Jez Mohideen, CEO of Laser Digital, is hopeful about the opportunities that this approval will bring, stating that it will “allow us to connect institutions in the virtual asset space with suitable products.”
  • This regulatory green light comes at a critical time. Dubai has recently started scrutinizing crypto license applications more closely following several significant events, including the collapse of FTX led by Sam Bankman-Fried.

Nomura Holdings, a Japan-based major financial services company, has become the company to obtain a license in Dubai after Binance.

Nomura Holdings Enters the Crypto Market in Dubai

nomura-kripto

Due to its business-friendly and low-tax regulatory environment, Dubai has led to crypto exchanges like Binance applying for permission to operate there. Bybit even relocated its office from Singapore to Dubai. Now, Dubai has granted a full cryptocurrency license to Laser Digital Middle East FZE, a subsidiary of Nomura Holdings Inc., a major financial services company.

Following this approval, Nomura’s Dubai-based digital asset subsidiary plans to start offering over-the-counter trading services and digital asset investment products for institutional investors in the coming months. This license, one of the first granted since Dubai revised its digital asset regulations, authorizes Laser Digital to locally provide virtual asset brokerage and investment management services.

Jez Mohideen, CEO of Laser Digital, is hopeful about the opportunities that this approval will bring, stating that it will “allow us to connect institutions in the virtual asset space with suitable products.” The company chose Dubai as an important location with a dedicated virtual asset regulator and a growing crypto market.

By betting on cryptocurrencies, Dubai can also take a pioneering position when Web3 – the next generation of the internet – becomes a reality. It has even made metaverse a foundation, as stated in its policies.

Important Times for Crypto in Dubai

This regulatory green light comes at a critical time. Dubai has recently started scrutinizing crypto license applications more closely following several significant events, including the collapse of FTX led by Sam Bankman-Fried. Despite these controversies and last year’s crypto downturn, financial institutions continue to develop services around digital assets.

For example, Societe Generale SA obtained France’s first crypto license last month, and asset manager BlackRock Inc. filed for a Bitcoin exchange-traded fund with the U.S. Securities and Exchange Commission in mid-June. Additionally, Binance’s subsidiary became the first exchange to receive the Operational Minimum Viable Product license in Dubai.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?