Dubai’s digital asset regulatory body has ordered Kucoin Exchange EU Gmbh—operating as Kucoin—to cease and desist its operations in the emirate, according to a Friday announcement, Decrypt.com reported. The Virtual Assets Regulatory Authority (VARA) said that the cryptocurrency exchange does not hold a license to provide digital asset services within Dubai, and is therefore not authorized to operate there.
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Animoca Brands has obtained a Virtual Asset Service Provider (VASP) licence from Dubai's Virtual Assets Regulatory Authority (VARA), clearing the way for the Web3 investment giant to offer broker-dealer and asset management services to institutional and qualified investors in and from the emirate, Decrypt.com reported.
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The Court of Arbitration of the International Chamber of Commerce (ICC) has ruled in favour of one of the most important creditors in the Signa bankruptcy case, the Luxembourg Times reported. The ICC awarded sovereign wealth fund Mubadala from the United Arab Emirates around €700 million for breach of financing agreements, according to the creditor protection association Creditreform. The arbitration tribunal is a non-governmental body for commercial and investment disputes.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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