BitGo Finds Safe Harbor in Dubai with New License Amid Regulatory Storm

As Dubai’s virtual asset regulator unleashes a wave of enforcement, BitGo has successfully navigated the compliance landscape to secure a prized broker-dealer license. The approval from the Virtual Assets Regulatory Authority (VARA) establishes BitGo MENA as a sanctioned service provider for institutional trading.

The license provides a clear competitive advantage, announced less than 24 hours after VARA issued financial penalties against 19 unlicensed companies, including the TON DLT Foundation and Hokk Finance.

Ben Choy, General Manager of BitGo MENA, framed the license as a key to building client “confidence and integrity.” The move, paired with a recent German license, reinforces BitGo’s commitment to operating within established regulatory frameworks worldwide.