Saturday, July 13, 2024

Coinmena has been granted a provisional license to operate in the UAE.

​​Crypto has been the talk of the world since the pandemic started. It has seen its fair share of highs and lows and now we are seeing it being accepted by many nations. With the cryptocurrency’s influence growing, many regulatory bodies have now started accepting them as real assets.

Recently Bahrain’s digital asset exchange named Coinmena was granted a virtual assets license although provisional in nature. It was given to the company by the Virtual Assets Regulatory Authority of Dubai and allows Cinema to operate in Dubai while it procures the license.

The Sharia compliant exchange will expand its activities in the country and also provide services to the local population. They had already received a license from the EU and Central Bank of Bahrain.

Dubai has always been the cultural and tech hub of the East and with new technologies coming up, they are adopting them at lightspeed. The inclusion of DeFi and digital assets all over the world is a good sign of the growth that Cryptocurrencies offer.

Helal Saeed Almarri, who happens to be the director general of DWTCA, welcomed Coinmena and appreciated the experience and knowledge that they bring. With VARA they are building one of the best regulatory environments in the world for virtual digital assets.

With the growth of crypto and it expanding all over the world, right now is the best time to invest in it. As it grows it will soon become out of reach of most people, be an early investor and enjoy the profits later on.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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