Cryptocurrency exchange Crypto.com has obtained a virtual asset license from the Dubai Virtual Assets Regulatory Authority (VARA), enabling it to offer a range of cryptocurrency-related services to institutional and retail investors in Dubai. The license is subject to operational approval, which means that Crypto.com must demonstrate that it has met all of VARA's compliance requirements before it can begin operating in the country. The acquisition of the VARA license is a major development for Crypto.com, as it will allow the company to expand its operations into one of the Middle East's most important financial hubs. Dubai has been actively courting cryptocurrency and blockchain businesses in recent years, and it has enacted a number of regulations designed to foster a pro-crypto environment.