Abu Dhabi regulator grants buying and selling agency Rain permission to supply crypto providers

The Abu Dhabi World Market Monetary Companies Regulatory Authority has granted its Monetary Companies Permission for cryptocurrency agency Rain to supply brokerage and custody providers to residents.

In a July 25 announcement, Rain mentioned the regulatory approval will enable sure United Arab Emirates-based institutional and retail customers to “purchase, promote, commerce, and retailer digital belongings” by the platform. Based on Rain CEO Joseph Dallago, the buying and selling agency has additionally partnered with a neighborhood financial institution to facilitate providers, underneath the “supervision of a neighborhood regulator and thorough authorized framework” for consumer safety.

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