BitOasis, a crypto exchange based in Dubai, has been granted a Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Assets Regulatory Authority (VARA).
This full license allows BitOasis to expand its crypto trading services within the UAE, including buying, selling, and trading. In May 2023, the company had received an operational license from VARA, which permitted it to provide broker-dealer services to qualified institutional and retail investors.
However, the issuance of a full market product (FMP) license was the final step in its licensing process. This milestone comes after BitOasis received provisional approval from VARA in 2022.
The company remains compliant with Dubai’s regulatory framework and is now able to provide its services to retail, institutional, and qualified investors. This lays the foundation for future regulatory approvals and potential expansions.
In addition to its presence in Dubai, BitOasis also holds regulatory approvals in Bahrain, where it provided virtual assets broker-dealer services. However, in 2023, the company faced a temporary suspension from VARA for not meeting certain regulatory requirements.
