As VARA Cracks Down on 19 Firms, BitGo Emerges with Coveted Dubai License

Reading Time: < 1 minute

Digital asset firm BitGo announced it has secured a full broker-dealer license from Dubai’s Virtual Assets Regulatory Authority (VARA). This achievement places BitGo in a privileged position just one day after VARA disclosed enforcement actions and financial penalties against 19 other companies for unlicensed activities.

The license grants BitGo MENA the authority to provide regulated digital asset trading services to institutional clients. Ben Choy, the division’s General Manager, called the approval a testament to “the accelerating momentum within Dubai’s digital asset ecosystem.”

This regulatory green light in Dubai, coupled with a recent license in Germany, positions BitGo as a compliant leader in the global digital asset infrastructure landscape.