BitGo has obtained a broker-dealer license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing its MENA division to legally operate as a digital asset trading intermediary for institutions.
The approval was announced just a day after VARA revealed it had taken enforcement action against 19 companies for operating without a license. This dual announcement highlights the regulator’s strategy of both welcoming compliant businesses and penalizing those that flout its rules.
This is BitGo’s second regulatory win in a short period, following its recent authorization to operate in Germany under BaFin’s oversight.
