- Dubai has officially approved Bitcoin and crypto options for retail investors through Laser Digital.
- With its tax-free status, clear regulation, and growing ecosystem of over 600 crypto firms, Dubai is positioning itself as a key hub for digital assets.
- Laser Digital will offer basic Bitcoin options under strict oversight to enhance security and liquidity.
Bitcoin price has risen 0.78% in the last 24 hours to trade at $114,996 as of 5:46 a.m. EST on a 13% drop in trading volume to $30 billion. This happens as the Dubai government officially approves Bitcoin Options buys for retail clients, a huge step toward becoming the world’s crypto capital.
Dubai Greenlights Bitcoin and Crypto Options Via Laser Digital
The Dubai government has officially approved Bitcoin (BTC) and other crypto options for retail clients. The announcement, made on August 6 by the Bitcoin commentary channel Bitcoin Archive on X, has sparked excitement among investors and crypto enthusiasts globally.
This move marks Dubai as a rising star in the adoption of digital currencies, with the United Arab Emirates (UAE) taking bold steps to embrace the future of finance. The decision allows regular people, not just big institutions, to buy and trade regulated Bitcoin options.
This follows the approval of the first over-the-counter (OTC) crypto options license, granted to Laser Digital, a subsidiary of Japan’s Nomura bank, under the Dubai Virtual Asset Regulatory Authority (VARA) pilot framework.
Dubai’s approval could challenge Western dominance in crypto markets. The city’s tax-free status and pro-crypto policies are seen as a magnet for investors, especially as the U.S. and EU tighten regulations.
Earlier, on July 16, the UAE’s crypto-friendly approach attracted Ripple (partnered with Ctrl Alt), which aims to tokenize real estate assets in the country using the XRP Ledger and Ripple’s institutional-grade custody infrastructure.
Approval Bears Strict Oversight to Ensure Safety
Laser Digital will start with simple “vanilla” options on major tokens like Bitcoin, using standard financial agreements. This cautious approach aims to build a solid foundation before expanding into more complex products.
Experts believe this could lead to increased market liquidity and better risk management for investors, drawing in both local and international players.
This isn’t Dubai’s first step into the crypto world. The city has been pushing forward with initiatives like accepting crypto payments for government services and hosting over 600 crypto firms in its free zones.
The VARA, established in 2022, has been key in creating a clear regulatory framework, making Dubai a haven for digital assets amid global uncertainties.
For retail investors, this means new opportunities to get involved in Bitcoin trading with added security. However, experts caution that the market’s volatility requires careful planning. As Dubai flies high with this decision, the crypto community watches closely, eager to see how this will shape the future of Bitcoin and beyond.
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