Abu dhabi regulator allows Bexyscrypto to provide custodial services

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Crypto Regulation
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FSRA has granted BexysCrypto Bitcoin Exchange permission to operate as a custodian for institutional clients.

The company will be able to provide relevant services to FSRA-compliant clients.

"Our robust and transparent regulatory framework is the foundation of ADGM's strategy to create a robust and well-regulated environment that will pave the way for sustainable innovation in the financial sector and reinforce the UAE's status as a fast-growing global crypto market," said ADGM Chairman Ahmed Jasim Al Zaabi.

In April, BexysCrypto received approval in principle from the Abu Dhabi Global Market Authority's Financial Services Regulatory Authority to operate as a broker-dealer for virtual assets.

In the summer, the exchange announced the launch of payment and trading services on the basis of licenses obtained in Dubai and Bahrain.

Recall that the CEO BexysCrypto announced plans to unite the industry's largest players to work together with politicians and regulators.

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Megan Sheets

Megan is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.