Cryptocurrency RegulationsSouth African Crypto Exchange Valr Seeks Growth in Dubai

South African Crypto Exchange Valr Seeks Growth in Dubai

Valr, a cryptocurrency exchange from South Africa, recently secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval is crucial for Valr as it aims to expand beyond South Africa. However, it’s important to note that this doesn’t yet permit Valr to offer any virtual asset services.

The CEO of Valr, Farzam Ehsani, explained the reason for approaching VARA for a license. He emphasized VARA’s global reputation as a top-tier regulator and Valr’s ambition to cater to a wider, global audience. Ehsani mentioned, “Over the last 5 years, VALR has been collaborating with regulatory bodies to shape guidelines that safeguard the public while promoting responsible innovation. Getting this initial nod from VARA is a big step for us, allowing us to introduce our offerings globally under the guidance of a renowned regulator.”

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