Kraken Becomes First Global Crypto Exchange Fully Licensed by Abu Dhabi Global Market

Abu Dhabi Global Market has awarded a afloat fiscal licence to crypto speech Kraken. “Kraken volition beryllium the archetypal planetary virtual assets speech radical successful the UAE to connection investors the quality to invest, trade, retreat and deposit virtual assets (bitcoin and ether) straight successful section AED currency,” the regulator explained.

Kraken Establishes Middle East Headquarters

Abu Dhabi Global Market (ADGM) announced Monday that cryptocurrency speech Kraken has go “the archetypal planetary virtual assets speech radical successful the UAE to person a afloat fiscal licence from ADGM.”

Abu Dhabi Global Market is an planetary fiscal halfway and escaped portion successful Abu Dhabi, the superior of the United Arab Emirates (UAE). It is the largest regulated jurisdiction of virtual plus activities successful the Middle East and North Africa (MENA) region.

The regulator explained:

Kraken is the archetypal planetary cryptocurrency speech to person a Financial Services Permission (FSP) licence to run a regulated virtual plus speech level successful the ADGM to work the needs of the Middle East and North Africa region.

“Kraken has met each support conditions from the Financial Services Regulatory Authority (FSRA) of ADGM to run arsenic a Virtual Asset Multilateral Trading Facility (MTF) and Custodian successful Abu Dhabi and the wider UAE,” the announcement details.

Noting that Kraken has established its Middle East office successful ADGM, the regulator said:

Kraken volition beryllium the archetypal planetary virtual assets speech radical successful the UAE to connection investors the quality to invest, trade, retreat and deposit virtual assets (bitcoin and ether) straight successful section AED currency.

Earlier this month, the FSRA issued a treatment insubstantial connected decentralized concern (defi). In March, the regulator published a consultation insubstantial proposing important amendments to its superior markets framework, including successful crypto assets.

The FSRA besides awarded cryptocurrency speech Binance in-principle support this period “to run arsenic a broker-dealer successful virtual assets.”

What bash you deliberation astir Kraken being the archetypal planetary crypto speech to beryllium licensed by the ADGM? Let america cognize successful the comments conception below.

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