Key Notes

Crypto.com is now the first VASP in the UAE to secure In-Principle Approval for an SVF license.

The license will allow residents to pay Dubai Government fees in crypto converted instantly into UAE dirhams.

The exchange reaffirms its commitment to strong compliance standards.

Foris DAX Middle East FZ-LLC (trading as Crypto.com) has received In-Principle Approval (IPA) from the Central Bank of the United Arab Emirates (CBUAE) for a Stored Value Facilities (SVF) license. This makes it the first Virtual Asset Service Provider (VASP) in the UAE to achieve this recognition.

Once the final license is granted, the company will be able to process Dubai Government fee payments directly in UAE dirhams or dirham-pegged stablecoins. Users will pay using their preferred digital assets, wh

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