Reddit Posts
Crypto.com Receives Authorisation as an Electronic Money Institution from the United Kingdom’s Financial Conduct Authority
Crypto Custodian Hex Trust Secures Virtual Asset License from Dubai’s VARA
Dubai’s Pioneering Move in Crypto Adoption: WadzPay Secures VARA Initial Approval
Earn Free $3 VARA Crypto | VARA Coinbase Quiz Answers (+ Additional $15)
New Coinbase Learning Rewards up to $18
US Department Of Justice (DoJ) Weighing Options Besides An Indictment Against Binance Explained
Nomura’s Crypto Division Secures Dubai VARA License
Binance to offer crypto broker-dealer services in Dubai with new license
Dubais VARA Takes Enforcement Action Against BitOasis
MaskEX Received Approval from Dubai's VARA and Allowed for UEA Launch Preparations |
UAE’s VARA — First Dedicated Crypto Regulator in the World
3AC Co-founders Reprimanded By Dubai Crypto Regulators For Operating New Exchange Without License
Mentions
tldr; Binance has been granted a full virtual-asset services provider (VASP) license by Dubai's Virtual Assets Regulatory Authority (VARA). This license allows Binance to expand its services in Dubai, enhancing its commitment to compliance, innovation, and responsible growth in the cryptocurrency sector. Previously, Binance had an Operational MVP license for serving institutional and qualified investors. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
$VARA and $VELO (velodrome). Small amount of each.
I gotta assume you looked at the article because the headline doesn't mention VARA, but that just begs the question of how you say it mention VARA but still don't know why it was included, the context made it pretty obvious. >Crypto.com, trusted by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, announced today that its Dubai entity, CRO DAX Middle East FZE, has received full operational approval from Dubai’s **Virtual Assets Regulatory Authority** (VARA) and is launching the Crypto.com Exchange for institutional investors as its first operational milestone.
Starting to see VARA pop up a lot not sure what it is or why it was included in this article.
VARA will be the next BXLN
I'm up 70k this month by selling every pump and buying something that hasn't pumped. Went from fetchai--->aero---->velo------> VARA. I expect Vara to pump to .40-.50 sometime soon.
VARA 200+ coins for free on coinbase. Aero, velo, tezos looks crazy undervalued.
VARA get 200 free tokens off coinbase for doing the rewards. Hold because I suspect VARA sees 1-2$ before September.
I went in pretty large in VARA after doing my homework. I'm the proud owner of 1/1000 of the current circulating supply. Polkadot backed, coinbase backed, which is awesome, not some no-name rug pull. From what I understand from the tokenomic perspective, 411,000,000 is the current supply, and we won't see any major unlocks until September. Increases In circulating supply will be rewards from staking and running a node. What's rewarded also gets burned from the inflation staking pool, so total supply doesn't increase. So realistically speaking, we might see 500-600 million in circulating tokens total until September. If prices stay under .30 cent. If the price gets higher, VARA rewards will be less than the 700k we're currently seeing. When the unlock happens. I was a little unclear about the unlocking after that something about no total sum unlock and certain locked tokens have to be vested even longer. It gets a little more complicated, but I'm not even sure I'll be holding after September's coin unlock. I'll re-evaluate then. Anyways, they just overhauled their website today (looks great). It seems like a project that does just about anything. Also, under $50,000,000 market cap. At 2$, that's 1 billion market cap. Oh, and has yet to break ATHs @ .33 The last part of my breakdown and most bullish aspect for me is coin base giveaway. Coinbase had 56,000,000 users as of last year. This number will likely increase as we reach full-on crypto bull run. So if 20% or only 10,000,000 people claim the $20+ free VARA, that's conservatively 200+ free VARA at the current price. 200 VARA X 10,000,000 people = 2,000,000,000 VARA or about 4.86 TImes the current circulating supply. Seems like a no-brainer since they're could possibly be giving away 4.8 times of what's actually available for purchase. MAYBE EVEN MORE DEPENDING ON HOW MANY CLAIM THE FREE REWARDS. Add on some alt coin pressure, and boom 💥 sends it to 1$, 2$, 3$ +? MY ADVICE CLAIM THE FREE TOKENS AND HOLD. I mean, where else you gonna find that kind of demand for free with a coin that's only $50,000,000 market cap and less than 500,000,000 circulating. It actually has a purpose and function, not some damn dog, cat, racist frog token. That's all I got. That's my blue-collar unemployed dumb DD. Good luck, folks. I'm having a great crypto year so far, I hope you all are very successful as well.
VARA I am hoping is going to moon. It's really only on coinbase for exchanges right now. Ridiculously low market cap (37 million) and they have a really good road map. Check it out. It's basically brand new, launched sep 2023. So u can get in early.... not financial advice, off course 😉
I should say I lost an account worth about $2 of VARA, never heard of it before lol
low cap boys starting to run, I’m holding TRAC and VARA and they’re *pumping*
From an article dated Nov 2023: “FTX’s former general counsel, Can Sun, and former Alameda Research software developer Armani Ferrante have teamed up to start Trek Labs, a Dubai-based company that recently obtained a license from the Virtual Assets Regulatory Authority, or VARA, which regulates digital assets in the emirate, the Wall Street Journal reported last week. Trek Labs was founded by Sun, and Ferrante is CEO of its holding company in the British Virgin Islands. Ferrante is also the founder of Backpack, a digital wallet company, which is integrated into the exchange and under which name Trek Labs will do business. Backpack closed a $20 million funding round in September 2022 for which FTX’s venture arm contributed half of the investment. Ferrante told the WSJ that he held the majority of the raised funds on the FTX exchange and lost it all when it collapsed.” That seems like a totally reliable exchange.
So true, My experience with VARA and Access..
tldr; Open Exchange (OPNX), a cryptocurrency derivatives and bankruptcy claims platform founded by Su Zhu and Kyle Davies of the bankrupt hedge fund Three Arrows Capital (3AC), is shutting down in February. Users are advised to settle positions by February 7, 2024, and withdraw assets by February 14, 2024. The closure follows a $2.7 million fine by Dubai's VARA for illegal promotion and a nine-year ban on the founders by Singaporean authorities for securities laws violations. OPNX's native token OX has dropped significantly in value. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Looks like there is a new coinbase earn for me with VARA
I’ve just been staking the $VARA I got from CB. Seems like that part of the chain works at least.
This is probably the best portfolio I have seen someone post on Reddit. Only change I might make (which I haven't even done myself, so it's more of a thought) is allocate a little of the ETH and ADA to VARA and DYP if you want those bigger gains (higher risk obviously, or you can allocate to any of the others for less risk- they're all winners you chose). One thing to note - if your DYP is on CB, then it's V1. IDK what the migration will look like, but DYP V1 is like 10x the price of V2, so if they do a 1:1 swap you'd get something like a tenth of the tokens you would as if you got v2 on mexc or kucoin. I do have a lot of faith in VARA and it is still cheap, so maybe more there since it hasn't ran yet.
I see no reasons NOT to buy $AURORA, $VARA, $RNDR, $DYP. Set a remind me and let’s talk in 1y time.
I’m gonna repeat my self, buy $VARA until it will be too late guys
Any thoughts on $DYP and $VARA?
That coinbase learn and earn from last week was awesome. 58 USD of VARA at the time and if you held you now have more than 130 USD worth of VARA.
Wow, that and VARA are pretty generous.
That shitcoin CoinBase was promoting, VARA, with their learning rewards is taking off it seems
Except there's tons of new development on it and it's parachains compared to EOS. I just completed Coinbase rewards for VARA which is a DOT parachain. Looked very decent
Latest coinbase learning rewards for $60 VARA was awesome
YOLO! Hey Millennials, looks like Crypto Custodian Hex Trust just secured their spot as the king of virtual assets in Dubai's VARA and now ragelords like us can finally take our gains offshore to flex our digital wealth with the big boys (or should I say Bitcoin boys?) Plus, we'll finally have a vacation destination that accepts BITO without a hefty exchange rate. Take that, Uncle Sam!
tldr; Crypto.com has been granted a license to operate specified virtual asset service activities in Dubai. The license has been granted to its Dubai entity, CRO DAX Middle East FZE, after receiving a minimal viable product (MVP) preparatory approval from Dubai’s Virtual Assets Regulatory Authority (VARA) in March. This marks a significant regulatory victory for Crypto.com, as it continues to expand its operations globally. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Does anyone know how to Mint NFT for the Coinbase quest for VARA? It seems like it's missing a step. Is it in the coinbase app or the SubWallet app?
Kind reminder to check out Coinbase for a new learn & earn activity for $18 in VARA, but also the $5 of SOFI in their wallet app. Both are very easy to follow, takes a few minutes. Go stack some sats, or ETH.
Yeah I just got the $15 in VARA Tokens 🤟
It's from VARA token.
Just noticed there’s a new Coinbase learn and earn for VARA available, in case it hadn’t been poster here yet!
Coinbase is offering $18 of VARA to do their tasks. Complete and swap. Quick $16 in BTC
Anyone understand how to finish the second part of the Coinbase rewards for Vara? I minted my NFT yesterday but I still haven’t been granted my $15 in VARA
Btw new $18 Coinbase reward quest for VARA 👍
tldr; The United Arab Emirates (UAE) has become a leading crypto hub due to its innovation-friendly regulations and ability to attract fintech entrepreneurs, according to a Chainalysis report. The UAE has seen $35 billion worth of crypto transactions in the year leading up to June 2023. The city of Dubai has been at the forefront of crypto innovation, rolling out a detailed blockchain strategy in 2016 and launching the Virtual Asset Regulatory Authority (VARA) in 2022. The UAE's pro-crypto stance has also attracted Bitcoin mining firms. While the UAE is pro-innovation, regulators are tough on fraud and non-compliance. The existence of different laws in Dubai and the government does not signify friction between them, and Dubai remains a haven for innovation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Tldr: Komainu, the cryptocurrency custody joint venture of Nomura, Ledger and CoinShares, has received an operating license from the Virtual Asset Regulatory Authority (VARA) in Dubai. Komainu can now offer its full range of custody services, including institutional staking and collateral management via its Komainu Connect platform, to clients in the emirate
tldr; Komainu, the cryptocurrency custody joint venture of Nomura, Ledger, and CoinShares, has received an operating license from the Virtual Asset Regulatory Authority (VARA) in Dubai. This allows Komainu to offer its full range of custody services, including institutional staking and collateral management, to clients in Dubai through its Komainu Connect platform. The platform enables clients to deploy their digital assets in collateralization scenarios while they remain in segregated custody. Dubai has been actively attracting crypto businesses, and Komainu sees significant opportunities to scale its business in the region. Komainu provides custody services to various entities, including exchanges, financial institutions, asset managers, corporations, and government agencies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
tldr; The relevant text of the article is: "Christian Borel, senior executive officer at SEBA Bank MENA, highlighted the stark differences in regulatory approaches between the United Arab Emirates (UAE) and the U.S. towards the burgeoning crypto industry. 'What the United Arab Emirates (UAE) has built is unique: an efficient, solid infrastructure that continues to attract both talent and capital from all over the world,' he said, in an interview with Benzinga. The proactive measures taken by the UAE, especially in Dubai and Abu Dhabi, foster a supportive environment for cryptocurrency and blockchain businesses. This stands in contrast to the more conservative approach observed in the U.S., especially with the Securities and Exchange Commission's (SEC) recent crackdown on crypto exchanges. Drawing attention to the UAE's agile regulatory stance, Borel stated, 'On the global stage, UAE regulation is agile and proactive. Instead of immediately shutting down innovative operations that don’t easily fit our centuries-old perception of the economy, like we’re seeing in the United States...UAE regulators work to find a new solution.' This highlights the UAE's willingness to understand and adapt to the nuances of emerging technologies, rather than dismissing them outright. Discussing the protective measures in place for crypto investors in the UAE, Borel emphasized the role of regulatory bodies like the FSRA in Abu Dhabi and VARA in Dubai. He said that digital asset regulation in the UAE is enforced in order to protect the customer and that the FSRA has been at the forefront of recognizing the value of the crypto economy, while VARA, though newer, has set strict standards to ensure end-user protection. Reflecting on the broader crypto landscape in the UAE, Borel says there has been a significant growth trajectory over the past five years, driven by the government's proactive initiatives. 'In terms of a future outlook, regulation is becoming an increasing priority as we see license issuers turn more diligent, only satisfied with the highest standard and an impermeable framework to secure investors’ safety,' he said." Summary: Christian Borel, senior executive officer at SEBA Bank MENA, praises the United Arab Emirates (UAE) for its proactive and agile regulatory approach towards the crypto industry, in contrast to the more conservative approach in the U.S. He highlights the UAE's willingness to understand and adapt to emerging technologies. Borel emphasizes the role of regulatory bodies in the UAE, such as the FSRA and VARA, in protecting crypto investors. He also notes the significant growth of the crypto landscape in the UAE driven by the government's initiatives, and the increasing priority of regulation for ensuring investor safety. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
tldr; Dubai's Virtual Asset Regulatory Authority (VARA) has fined OPNX, a cryptocurrency project created by the founders of Three Arrows Capital (3AC), $2.7 million for a market offense. The project's founders and CEO have paid their fines, but OPNX has yet to make payment, leading VARA to consider further actions against the platform. In addition to the fine, OPNX CEO Leslie Lamb and 3AC founders Su Zhu and Kylie Davies, along with OPNX co-founder Mark Lamb, were issued penalty fines for violating marketing regulations. The launch of OPNX faced criticism due to the involvement of Zhu and Davies, who were behind a previous failed cryptocurrency project. Despite the fines, OPNX's trading volume remains significant. VARA is now looking to take additional actions against OPNX for its failure to pay the fine. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
tldr; The relevant text of the article states that the founders of crypto exchange OPNX, Kyle Davies and Su Zhu, have been fined $2.7 million by Dubai's Virtual Assets Regulatory Authority (VARA). OPNX, created by the founders of failed hedge fund Three Arrows Capital (3AC), allows investors to trade bankruptcy claims for companies like FTX and CoinFLEX. The exchange was previously reprimanded by VARA in May. The fine, issued on May 2, remains unpaid, and VARA has stated that further action will be taken to address the unpaid fines. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
The founders of Three Arrows Capital (failed crypto hedge fund) are facing a new fine in Dubai over their new digital-asset exchange, OPNX. According to Dubai’s Virtual Assets Regulatory Authority (VARA), the new company was issued a fine of $2.7 million in May. However, the company has yet to pay the penalty. Dubai has adopted a stricter stance on crypto this year, with VARA saying: > “VARA shall determine consequential actions warranted against OPNX, which may include further fines, penalties, and/or taking any actions necessary to recover payment and definitively remedy the behavior.”
> > We are pleased to announce that our Dubai subsidiary, Binance FZE, has become the first exchange to receive the Operational Minimum Viable Product (MVP) license from VARA”, wrote exchange in a press release > According to the announcement, obtaining the license enables Binance to offer crypto exchange and brokerage services in the emirate for institutional and qualified investors. > Established in Dubai since 2021, Binance had already obtained a so-called “preparatory” MPV license in September 2022 and then a “provisional” MVP license in March 2023.
tldr; Binance has obtained an "Operational MVP" crypto license in Dubai, allowing the company to offer crypto exchange and brokerage services to institutional and qualified investors in the emirate. This makes Binance the first exchange to receive this license from the Digital Assets Regulatory Authority (VARA) in Dubai. The company had previously obtained a preparatory MVP license in 2022 and a provisional MVP license in 2023. Binance's director in Dubai expressed excitement about the growth of the digital assets market in the city. However, Binance has faced regulatory challenges in other countries, including lawsuits from US regulatory authorities and being forced to exit certain markets in Europe. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
tldr; Binance has obtained a Virtual Asset Regulatory Authority (VARA) license in Dubai, which is a crucial step towards becoming an approved crypto exchange service in the region. The license allows Binance to offer broker-dealer and exchange facilities to institutional investors, with potential for expansion to retail investors in the future. The platform can also provide fiat on and off-ramp services and convert crypto to fiat. While Binance currently holds the operational minimum viable product (MVP) license, it still needs to obtain the full market product (FMP) license to offer services to anyone in Dubai and expand its range of offerings. Dubai is a rapidly growing crypto economy and has attracted over 500 crypto firms, making it one of the largest crypto hubs in Asia. Binance has faced regulatory challenges in Europe and the US, including a lawsuit from the US SEC and withdrawal from multiple countries. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Binance has obtained an operational license from the Virtual Asset Regulatory Authority (VARA) of Dubai, allowing the crypto exchange to provide approved services in Dubai. The license covers exchange and broker-dealer facilities for institutional and qualified retail investors, with the potential to expand to include other retail investors. Eligible users in Dubai can also convert virtual assets to fiat under VARA-designated standards. Binance plans to offer local currency on and offramp channels through its locally regulated entity. While Binance has not yet obtained a full market product license (FMP), the operational license is a significant step towards full approval. Dubai is a growing crypto economy, attracting numerous crypto companies. Binance has faced challenges in other regions, including withdrawal from European cities and a lawsuit from the US Securities and Exchange Commission. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The relevant text of the article states that Dubai's digital assets regulator has suspended BitOasis' conditional license and initiated enforcement action. The cryptocurrency exchange failed to meet certain conditions required by the Virtual Assets Regulatory Authority (VARA) within the specified timeframes. BitOasis received the license in April and is working closely with VARA to fulfill the conditions. The license specifically covers institutional and qualified investors, and BitOasis has not yet provided services to them. The suspension does not affect the exchange's ability to provide broker dealer services to existing retail users, but they will not onboard any new clients until they fully comply with VARA requirements. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
>"BitOasis is under review for not meeting mandated conditions, required to be satisfied within 30-60 day timeframes prior to being permitted to undertake any VARA regulated market activity ... ," Not a good time for exchanges not to meet regulatory conditions, with investor distrust at all time high.
“Following the launch, and with the continued lack of satisfactory remedial action by the responsible parties, VARA is continuing to actively monitor the situation and investigate OPNX's activity to assess further corrective measures that may be required to protect the market,”
Exactly, now they're only waiting on receiving an FMP license from VARA.
Approval from VARA, which is the Virtual Asset Regulatory Authority of Dubai.
**Your submission has been removed because at least 1 submission with the same URL has posted on the subreddit recently.** **OP:** PhonyDrank **Date:** 2023-05-10 05:21:59 **Duplicates:** N | User | Date | Posted... | URL | Title :-:|:-:|:-:|:-:|:-:|:-:|:-:|:-: 1 | [/u/PhonyDrank](https://www.reddit.com/user/PhonyDrank) | 2023-05-09 20:38:48 | 8 hour(s) before | [url](https://https://finbold.com/maskex-receives-initial-approval-to-prepare-for-launch-in-dubai/) | [MaskEX Received Approval from Dubai's VARA and Allowed for UEA Launch Preparations |](https://redd.it/13d5a55) I am a bot. If you believe this was sent in error, reply to this comment and a moderator will review your post. **Do not delete your post or moderators won't be able to review it.**
tldr; The Dubai Virtual Assets Regulatory Authority (VARA) has issued a written reprimand to 3AC co-founders Su Zhu and Kyle Davies for operating a new crypto exchange called OPNX without adequate licensing. The VARA was established as the sole authority regulating all digital asset trading activities in the country. The regulator also issued a two-time cease-and-desist operation notice to the exchange. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Dubai's Virtual Assets Regulatory Authority (VARA) has issued a written reprimand to Su Zhu and Kyle Davies, the co-founders of failed crypto hedge fund Three Arrow Capital, over operating and promoting their new digital asset exchange OPNX without the required local license in Dubai. The regulator said it is still investigating the activities of the newly found exchange. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Dubai’s Virtual Assets Regulatory Authority (VARA) should hold an educational long course for SEC, CFTC and other countries legulatory watchers.
tldr; Middle East-focused crypto exchange BitOasis has received the first broker-dealer minimum viable product operational license from Dubai's crypto regulator, the company said on Monday. Dubai's Virtual Asset Regulatory Authority (VARA) was formed in March 2022 to regulate the emerging virtual asset sector in the emirate. VARA licenses firms in a series of *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported. The regulator has also requested the same details from global crypto players looking to be licensed in Dubai. Binance received a minimal viable product (MVP) license from VARA in September last year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The Virtual Assets Regulatory Authority (VARA) in Dubai has requested Binance and other international firms to provide additional information regarding their ownership, management, and auditing processes as part of their permit application process. The move ensures companies comply with the “highest” regulatory standards while promoting innovation within the crypto and digital asset industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*