Deribit crypto options exchange may move to Dubai

01/31/2023

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According to David Dohmen, chief legal compliance and regulatory officer at Deribit, the platform is going to apply for a trading license in Dubai.

The cryptocurrency exchange plans to put ten people in charge of the Dubai office, hire an audit firm from the top four and publish daily snapshots of its reserve confirmations (PoR). All these steps are aimed at increasing user confidence in Deribit.

But despite the fact that Dubai positions itself as a progressive center for cryptocurrency companies, the decline of well-known crypto exchanges forced regulators of the United Arab Emirates (UAE) to reconsider the city's desire to become the main crypto center of the Middle East.

In addition, to protect investors, regulators have also introduced stricter rules for crypto firms based in the Gulf state.

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