{"id":91781,"date":"2024-05-08T00:00:00","date_gmt":"2024-05-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/crypto-options-desk-qcp-receives-in-principle-approval-to-operate-in-abu-dhabi\/"},"modified":"2024-05-08T00:00:00","modified_gmt":"2024-05-08T00:00:00","slug":"crypto-options-desk-qcp-receives-in-principle-approval-to-operate-in-abu-dhabi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/08\/crypto-options-desk-qcp-receives-in-principle-approval-to-operate-in-abu-dhabi\/","title":{"rendered":"Crypto options desk QCP receives in-principle approval to operate in Abu Dhabi"},"content":{"rendered":"

Crypto market maker QCP to set up shop in Abu Dhabi: <\/strong>Abu Dhabi Global Market (ADGM) regulator, the Financial Services Regulatory Authority (FSRA), has granted Singapore-based crypto trading firm QCP Capital in-principle approval to commence operations in Abu Dhabi, according to a {press release}<\/a>.<\/p>\n

What they said:<\/strong> QCP chose ADGM as its expansion destination as the FSRA is \u201cthe first regulator globally to introduce and implement a comprehensive and bespoke regulatory framework for the regulation of exchanges, custodians, brokers, and other intermediaries engaged in virtual asset activities,\u201d the statement reads.<\/p>\n

Abu Dhabi\u2019s regs are finding favor with digital firms: <\/strong>\u201cAbu Dhabi has got very progressive regulators in that they are thinking about the digital assets as a complete ecosystem with all of traditional finance,\u201d QCP CEO Melvin Deng told Bloomberg<\/a>. <\/p>\n

Abu Dhabi\u2019s geographical location was also a factor in the decision:<\/strong> \u201cThe Middle East is actually quite a good confluence for capital flows from Europe, to the Middle East region, as well as Asia, so it\u2019s got similar properties to what we have in Singapore, and we want to leverage on their capabilities to establish another marketplace,\u201d Deng said.<\/p>\n

OTHER CRYPTO NEWS-<\/p>\n

Austrian unicorn and digital assets trader Bitpanda is expanding into the UAE<\/strong>, with operations expected to kick off within three months, according to Wam<\/a>. <\/p>\n

What they said: <\/strong>\u201cThe UAE is the ideal place for us to make our entry to the Middle Eastern market. It has the perfect mix of investor demand and innovative regulatory environment that will allow us to deliver the best trading solution available on the market,\u201d co-founder and CEO Eric Demuth said. <\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto firm chose Abu Dhabi for its \u201cprogressive\u201d regulatory framework and location<\/p>\n","protected":false},"author":1,"featured_media":91782,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1558],"tags":[562,107,7,299],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-abu-dhabi-global-markets","tag-crypto","tag-enterpriseam-uae","tag-financial-services-regulatory-authority","wpautop","entry"],"acf":{"mongo_id":"92bea753-12ba-4fb8-8014-9bfc093d1f65","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/695.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Crypto options desk QCP receives in-principle approval to operate in Abu Dhabi","related_issue":[91770],"teaser":"The crypto firm chose Abu Dhabi for its \u201cprogressive\u201d regulatory framework and location","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.018ce23e-7b2f-4a8a-92e0-55bf9c981813.mp3"},"yoast_head":"\nCrypto options desk QCP receives in-principle approval to operate in Abu Dhabi - 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