Dubai’s VARA issues 50th crypto license; only 39 VASPs fully operational
Dubai’s Virtual Assets Regulatory Authority (VARA) has issued its 50th virtual asset service provider (VASP) license, extending the Dubai VARA licensing push. But licensing is not the same as live operations: only 39 VASPs were fully operational by end-2025, with additional firms still in transition.
VARA distinguishes In-Principle Approvals (IPAs) from full licenses. As of May 2026, its public register shows 49 licensed entities active in the market. The newest full license was granted to CoinCorner Virtual Assets Broker & Dealer Services L.L.C. on May 5, 2026.
Recent VARA licensing milestones include LTP’s April 2026 approval as an institutional broker-dealer and a February 2026 license for Animoca Brands Middle East. VARA’s covered categories now span exchanges, custody, broker-dealer services, and token issuance.
Regulatory priorities include market-abuse rules and anti-money laundering (AML) compliance, with added attention on stablecoins and real-world asset (RWA) tokens. Enforcement against unlicensed activity has also intensified.
For traders, the key actionable point is to check VARA licensing status (full license vs IPA). This affects market access, counterparty risk, and the likelihood of larger institutional allocations in the region.
Neutral
This news is more about regulatory plumbing than a direct catalyst for any token price. The issuance of VARA’s 50th license and the recent onboarding of broker-dealer and token-issuance categories improve clarity for institutional counterparties, which can support sentiment. However, the gap between total licensed entities and fully operational VASPs (only 39 by end-2025) tempers near-term impact because market activity and liquidity may not ramp immediately. With enforcement tightening around unlicensed activity and stronger AML/market-abuse oversight, the outcome is likely to be gradual and stabilizing rather than sharply bullish for specific assets.