Deribit FZE, an entity under the umbrella of the crypto derivatives platform Deribit, has successfully been granted a 'conditional' virtual asset service provider license by Dubai's virtual assets regulator.

This newly acquired license allows for both spot and derivative trading activities.

However, the license is yet to be operational, pending Deribit's compliance with specific localisation requirements set forth by the Dubai regulator.

Deribit must meet these criteria to fully activate and utilize the license in Dubai’s dynamic and rapidly growing virtual assets market.