Norton Rose Fulbright aids Deribit in securing the first-ever VA derivatives trading license from VARA
This license enables Deribit to operate a virtual asset derivatives exchange in the Emirate of Dubai, marking a significant milestone in the realm of cryptocurrency trading
Deribit, renowned as a centralised, institutional-grade platform specialising in crypto derivatives trading for options and futures, now stands as the inaugural recipient of the FMP license from VARA for virtual asset derivatives exchange operations in Dubai.
The dedicated team at Norton Rose Fulbright, led by partner Matthew Shanahan and associate Hasanali Pirbhai, provided strategic counsel throughout the licensing process. Partner Matthew Shanahan expressed his satisfaction, highlighting the firm's role in supporting Deribit's endeavours and the broader implications for the burgeoning crypto industry in Dubai.
Norton Rose Fulbright's Dubai office boasts a comprehensive suite of legal services, with notable expertise in financial services regulation, technology, energy, infrastructure, transport, real estate, and hospitality sectors. The firm's regional financial services and regulation team, bolstered by seasoned ex-regulators, brings over two decades of combined experience to the table. Their sterling reputation and proficiency in advising FinTech entities, including crypto exchanges and digital asset service providers, on establishment and licensing matters in the UAE, underscore their unparalleled capabilities.
As the crypto landscape continues to evolve, Norton Rose Fulbright remains committed to supporting clients like Deribit in navigating regulatory frameworks and fostering innovation in the Middle East's dynamic market environment.