Animoca Granted Dubai License Amid Stricter Crypto Oversight

Animoca Brands secured a Virtual Asset Service Provider (VASP) license from Dubai’s VARA, enabling institutional and qualified investor services across Dubai (excluding DIFC). The move follows VARA’s push to strengthen regulated crypto infrastructure. Co-founder Yat Siu said the license supports Animoca’s institutional growth, including real-world assets (RWAs), and cements its Middle East presence. The approval comes after the DFSA banned privacy tokens (e.g., Monero, Zcash), eliminated its token whitelist, and prohibited mixers/tumblers. It also tightened fiat crypto token standards, likely disqualifying many existing stablecoins. Experts view the stricter rules as a positive signal for serious investors, aligning Dubai with global AML standards. Similar crackdowns on privacy tokens are underway in India’s AML/CFT guidelines.