Cryptocurrency Exchange FTX Wins License In Dubai

Cryptocurrency exchange FTX has received a virtual asset license in Dubai, Bloomberg reported.
The exchange also has plans to set up a regional headquarters in Dubai.
The firm will offer “complex crypto-derivatives products with centralized counterparty clearing to institutional markets,” the report quoted FTX CEO Sam Bankman-Fried.
The license comes a week after Dubai announced the creation of the Virtual Asset Regulatory Authority (VARA), which will be responsible for governing the crypto sector.