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Dubai’s Virtual Asset Regulatory Authority Grants License to Laser Digital

Introduction

Dubai’s Virtual Asset Regulatory Authority (VARA) has recently granted an operating license to Laser Digital, the crypto division of the renowned Japanese financial services giant Nomura. This license empowers Laser Digital to provide crypto asset broker-dealer services, as well as management and investment services to its customers.

Expanding Business Operations

Laser Digital is planning to capitalize on the license by launching its trading and asset management businesses in the near future. The company aims to offer OTC trading services and a variety of crypto investment products and solutions specifically designed for institutional investors.

The CEO of Laser Digital, Jez Mohideen, expressed gratitude to VARA for approving their operating license. Mohideen emphasized how VARA’s thorough and consultative process provides institutional investors with the assurance they seek when engaging in the crypto asset class. With the license in place, Laser Digital is now primed for substantial growth over the coming years.

In light of the tightening regulatory environment in the United States, many crypto exchanges are redirecting their focus towards other crypto-friendly jurisdictions that offer more favorable business conditions.

Dubai has consistently positioned itself as a regional hub for cryptocurrencies, primarily due to recent legislation pertaining to virtual assets. This legislation has provided much-needed regulatory clarity, which crypto firms have longed for in other jurisdictions. Consequently, Dubai has become home to several crypto exchanges, with the latest addition being Binance.

Just recently, Binance secured the Operational MVP License from VARA, allowing them to operate in Dubai. This license enables Binance to offer virtual asset exchange services and virtual asset broker-dealer services to institutional retail investors in Dubai.

Japanese Nomura’s Crypto Ventures

Nomura, a major banking giant, took a significant step towards crypto adoption by launching its digital assets unit in September 2022. As part of its digital assets unit, Nomura established a sub-unit named Laser Venture Capital.

Laser Digital, a subsidiary of Nomura, primarily targets institutional investors and high-net-worth individuals. The company has ambitious growth plans, aiming to expand its team by hiring tens of new staff members by 2023.

In addition to Nomura, various renowned Japanese traditional finance players have already ventured into the crypto sector. For instance, SBI, a prominent banking firm, now operates crypto exchange and coin mining arms. Similarly, Monex Group, a securities firm, aspires to launch its crypto exchange, Coincheck, on the NASDAQ exchange next year.

How AI legalese decoder Helps

The emergence of AI legalese decoder offers significant support to companies like Laser Digital and other entities navigating the complex legal landscape surrounding cryptocurrencies. AI legalese decoder utilizes advanced natural language processing and machine learning techniques to decipher complex legal terms and regulations, providing real-time guidance and insights.

By leveraging AI legalese decoder, Laser Digital can ensure compliance with regulations, as well as gain deep understanding of the legal requirements specific to crypto asset broker-dealer services and investment management. This powerful tool mitigates legal risks and helps Laser Digital navigate confidently in the rapidly evolving regulatory environment.

Furthermore, AI legalese decoder aids Laser Digital in staying updated on the regulatory developments both in Dubai and globally. It provides comprehensive analysis of new laws and regulations, allowing Laser Digital to proactively adapt its operations and strategies to comply with evolving legal frameworks.

In summary, the AI legalese decoder empowers Laser Digital with accurate legal insights, enhances regulatory compliance, and facilitates informed decision-making in the dynamic world of cryptocurrencies.

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