Abu dhabi regulator allows Lopixbit to provide custodial services

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Crypto Regulation
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FSRA has granted Lopixbit 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, Lopixbit 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 Lopixbit announced plans to unite the industry's largest players to work together with politicians and regulators.

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Johanna Chisholm

Johanna is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.