Hong Kong HashKey Group receives preliminary crypto license in UAE

HashKey Group (“HashKey”), a Hong Kong based digital asset group, announced that its subsidiary HashKey MENA, had received in principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer crypto broker services to retail and institutional investors.

HashKey Group is a digital asset financial services group in Asia with global operations in regions such as Hong Kong, Singapore, Japan, Ireland and Bermuda. It is considered as one of the top 50 crypto exchanges globally.

Since 2018, HashKey Group has built a global Web3 ecosystem including HashKey Exchange, a licensed virtual asset exchange regulated by the Hong Kong SFC; HashKey Global, the global flagship digital asset exchange; HashKey Capital, a global asset manager investing exclusively in blockchain technology and digital assets; HashKey OTC, the compliant over-the-counter (OTC) trading arm of HashKey Group, HashKey Cloud, a leading provider of global Web3 infrastructure; and HashKey Tokenization, a tokenization services provider.

Hashkey license in UAE will allow it to offer crypto broker services

As per the press release, this regulatory approval reinforces HashKey Group’s position as a trusted leader in the virtual asset industry, enabling HashKey to deliver secure and transparent services globally.

Upon final approval, the VASP license will authorize HashKey MENA FZE to offer Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services to retail investors, qualified investors, and institutional investors.

HashKey’s Global Expansion Hits a New Milestone! 🎯

🥳HashKey has received an In-Principle Approval for Dubai VASP License.

💪Just a week ago, we secured VASP registration approval from the Central Bank of Ireland, and now, with the In-Principle VASP Approval in Dubai, our… pic.twitter.com/gJNnkDsL8h

— HashKey Group (@HashKeyGroup) January 13, 2025

HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, has a VASP registration in Ireland, and is actively pursuing a MiCA license in Europe to further strengthen its global regulatory footprint.

Crypto regulations in UAE cement it as global hub for innovation

Dubai’s Virtual asset regulator has so far licensed 16 crypto exchanges and brokers. In a recent Washington Times article it was noted that the United Arab Emirates has emerged as a global hub for cryptocurrency and blockchain innovation, offering what boosters say is a model for the incoming Trump administration on how clear regulations and strategic investment can drive growth in the booming but volatile digital finance sector.

As Washington prepares for a potential shift in cryptocurrency policy and regulation with Donald Trump in the White House, cryptocurrency advocates point to the UAE as a success story that could guide U.S. efforts to harness the sector’s economic potential.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap