BitOasis Secures Preliminary Approval With UAE Financial Regulator

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United Arab Emirates-based cryptocurrency exchange BitOasis has reportedly secured preliminary approval with financial regulators, Bloomberg reported on May 13.Founded in 2015, BitOasis claims to be the Middle East's first digital currency wallet that uses multi-signature technology. The company previously announced that it was seeking to be fully licensed in the financial center Abu Dhabi Global Market (ADGM) before the end of this year. Ola Doudin, the founder and CEO of BitOasis said then that “we are hoping to be one of the first regulated exchanges to get that licence.”Today, Bloomberg reported that BitOasis received preliminary approval in April from the Financial Services Regulatory Authority of ADGM to operate a crypto asset platform and wallets. To get a license, the exchange has to meet specific technical and operational requirements, which it expects to do in the second half of the year. Doudin reportedly said:“This is a huge milestone. It gives us…

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