Virtual Assets Regulatory Authority Archives

Today, Deribit FZE, a leading name in the world of crypto derivative options, announced a key development from its Dubai office. The company has successfully obtained a conditional Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA). This license allows for both spot and derivatives trading. However, there's still some way to go before it becomes fully operational, as Deribit needs to meet additional conditions and localization requirements set by VARA. As part of its strategy, Deribit is relocating its global headquarters to Dubai. This significant move is accompanied by the appointment of Luuk Strijers as Chief Executive Officer, alongside two experienced Non-Executive Directors. These changes signal a fresh direction for the company under its new leadership. This step into the Dubai market is a critical move for Deribit, positioning it to take full advantage of VARA's advanced regulatory framework for digital assets. "Being appointed CEO at this crucial time is a huge honour. VARA's progressive regulatory framework opens up vast opportunities in the digital asset realm. Our strong position in the crypto options market reflects the trust our clients have in us. I'm thrilled to work with our loyal clientele and drive Deribit's innovation, as we continue to lead in the evolving crypto marketplace," said Luuk Strijers, reflecting on his new role and the road ahead. Deribit aims to cater to institutional and qualified investors with its state-of-the-art technology once it meets all regulatory prerequisites. Until then, its retail client services will be managed through its Panama-based broker affiliate. John Jansen, Co-Founder of Deribit, shared his perspective on the license acquisition: "Today marks a monumental chapter in Deribit's story. Securing the conditional VASP license from VARA is not just a regulatory milestone; it's a sign of our unwavering commitment to providing a secure, transparent, and innovative platform for our users. The appointment of a new CEO and two seasoned NEDs signifies a fusion of fresh insights and extensive experience, fortifying our strategy for long-term growth. As we anchor our operations in Dubai, we're not only extending our reach but also reaffirming our resolve to remain the platform of choice for trading. This is a giant stride towards realising our ambitious vision, and it invigorates our journey in steering the crypto industry to new horizons."

Virtual Assets Regulatory Authority

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