BitGo has obtained a brokerage dealer license issued by the Dubai Virtual Assets Regulatory Authority

ChainCatcher news, according to Cointelegraph, digital asset infrastructure company BitGo has announced that it has received regulatory approval to provide specific services in Dubai, coinciding with the announcement of multiple enforcement actions by relevant authorities in Dubai.

In an announcement released on Tuesday, BitGo stated that its Middle East and North Africa (MENA) branch has obtained a brokerage license issued by the Dubai Virtual Assets Regulatory Authority (VARA), allowing the company to "provide regulated digital asset trading and intermediary services for institutional clients." Less than 24 hours before VARA announced the approval of this license, it stated that it had fined 19 companies for engaging in "unlicensed virtual asset activities" and "violating VARA marketing regulations."