{"id":67013,"date":"2022-09-12T14:25:19","date_gmt":"2022-09-12T11:25:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67013"},"modified":"2025-09-07T04:26:13","modified_gmt":"2025-09-07T01:26:13","slug":"blockchain-com-receives-provisional-approval-to-operate-in-dubai","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blockchain-com-receives-provisional-approval-to-operate-in-dubai\/","title":{"rendered":"Blockchain.com receives provisional approval to operate in Dubai"},"content":{"rendered":"<p>Blockchain.com, the exchange and cryptocurrency-wallet operator, has received provisional approval to operate from Dubai&#8217;s Virtual Asset Regulatory Authority (VARA). Reuters reports.<\/p>\n<p>According to the agency, the company will open an office in the region and begin recruiting staff.<\/p>\n<p>A tweet reposting the news was published by Blockchain.com&#8217;s chief Peter Smith.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Great work by the team here \u2014 Dubai \u2705\u2705\ud83d\ude80\ud83d\ude80<a href=\\\"https:\/\/t.co\/8nQm8w8y3g\\\">https:\/\/t.co\/8nQm8w8y3g<\/a><\/p>\n<p>\u2014 Peter Smith (@OneMorePeter) <a href=\\\"https:\/\/twitter.com\/OneMorePeter\/status\/1568290795152883719?ref_src=twsrc%5Etfw\\\">September 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The exchange&#8217;s official account also <a href=\\\"https:\/\/twitter.com\/blockchain\/status\/1568357176846196736\\\">posted<\/a> a message: \\&#8221;Get ready, we&#8217;re coming to Dubai.\\&#8221; However, at the time of writing, the <a href=\\\"https:\/\/medium.com\/blockchain\/blockchain-com-obtains-provisional-approval-to-operate-in-dubai-516000cdadbf\\\">\u0437\u0430\u043f\u0438\u0441\u044c<\/a> referenced by Blockchain.com was unavailable.<\/p>\n<figure class=\\\"wp-block-image size-full\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"914\\\" height=\\\"615\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-09-12-v-13.29.29.png\\\" alt=\\\"Reuters reports provisional approval for Blockchain.com to operate in Dubai\\\" class=\\\"wp-image-184525\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-09-12-v-13.29.29.png 914w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-09-12-v-13.29.29-300x202.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-09-12-v-13.29.29-768x517.png 768w\\\" sizes=\\\"auto, (max-width: 914px) 100vw, 914px\\\" \/><figcaption>Data: Blockchain.com&#8217;s blog.<\/figcaption><\/figure>\n<p>Earlier, the exchange <a href=\"https:\/\/forklog.com\/en\/news\/blockchain-com-trims-a-quarter-of-its-workforce\">announced the layoff of about 150 employees<\/a> (~25% of the total) and a reduction in top executives&#8217; salaries. The company cited the need to offset financial losses and unfavourable market conditions.<\/p>\n<p>The moves followed amid potential losses of $270 million tied to a loan to hedge fund Three Arrows Capital. The latter filed for bankruptcy.<\/p>\n<p>In early July, Blockchain.com called for the liquidation of Three Arrows Capital.<\/p>\n<p>Earlier, temporary licenses from the emirate&#8217;s regulator were also granted to exchanges Binance, <a href=\"https:\/\/forklog.com\/en\/news\/okx-granted-dubai-license\">OKX<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/huobi-exchange-secures-dubai-regulators-provisional-approval\">Huobi<\/a>.<\/p>\n<p>In the spring, immediately after VARA&#8217;s creation, a similar licence was issued to FTX. In late July, the platform&#8217;s subsidiary <a href=\"https:\/\/forklog.com\/en\/news\/ftx-secures-full-dubai-crypto-exchange-licence\">became the holder of a full licence<\/a> from the regulator to provide exchange and clearing services for digital currencies.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain.com, the exchange and cryptocurrency-wallet operator, has received provisional approval to operate from Dubai&#8217;s Virtual Asset Regulatory Authority (VARA). Reuters reports.<\/p>\n","protected":false},"author":1,"featured_media":67014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[996,272,36],"class_list":["post-67013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-com","tag-dubai","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=67013"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67013\/revisions"}],"predecessor-version":[{"id":67015,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67013\/revisions\/67015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/67014"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=67013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=67013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=67013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}