Crypto Exchange LBank Limits UAE Services During Its VASP License Bid
- LBank has suspended registration for new users from the UAE.
- Existing LBank users can only access limited services.
- LBank’s suspended services to pursue the VARA license.
Leading global crypto exchange LBank has suspended registration for new users from the UAE and also limited its services for existing customers in the region.
This move is due to ongoing regulatory adjustments as LBank works to secure a key operational license from Dubai’s authorities.
LBank Seeks Dubai VARA License, Temporarily Adjusts UAE Crypto Services
In its latest public notice, the cryptocurrency exchange notified the public that it is processing the acquisition of the Virtual Asset Service Provider (VASP) license under the Dubai Virtual Assets Regulatory Authority (VARA). LBank stated that this licensing process requires the exchange to suspend certain services in alignment with regulatory expectations.
According to LBank, the latest adjustment aims to improve its services for users. The regulatory compliance would ensure the highest standard of customer protection and transparency. Therefore, until the process ends, LBank will not admit new users.
Additionally, exist…
The post Crypto Exchange LBank Limits UAE Services During Its VASP License Bid appeared first on Coin Edition.
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Crypto Exchange LBank Limits UAE Services During Its VASP License Bid
- LBank has suspended registration for new users from the UAE.
- Existing LBank users can only access limited services.
- LBank’s suspended services to pursue the VARA license.
Leading global crypto exchange LBank has suspended registration for new users from the UAE and also limited its services for existing customers in the region.
This move is due to ongoing regulatory adjustments as LBank works to secure a key operational license from Dubai’s authorities.
LBank Seeks Dubai VARA License, Temporarily Adjusts UAE Crypto Services
In its latest public notice, the cryptocurrency exchange notified the public that it is processing the acquisition of the Virtual Asset Service Provider (VASP) license under the Dubai Virtual Assets Regulatory Authority (VARA). LBank stated that this licensing process requires the exchange to suspend certain services in alignment with regulatory expectations.
According to LBank, the latest adjustment aims to improve its services for users. The regulatory compliance would ensure the highest standard of customer protection and transparency. Therefore, until the process ends, LBank will not admit new users.
Additionally, exist…
The post Crypto Exchange LBank Limits UAE Services During Its VASP License Bid appeared first on Coin Edition.
Read More