OKX has become the first global exchange to offer regulated crypto derivatives in the United Arab Emirates (UAE) under the Virtual Assets Regulatory Authority (VARA) pilot framework.
First Exchange with Regulated Crypto Derivatives in UAE
OKX, a leading crypto exchange, has announced the launch of regulated crypto derivatives for retail traders in the UAE under the VARA pilot framework. This initiative supports OKX's regional strategy and enhances UAE's innovation plans in the crypto industry.
Impact on Market and Traders
The launch of regulated derivatives will provide retail traders with access to new trading tools such as futures, perpetuals, and options with up to 5x leverage. This is expected to enhance market confidence and strengthen the UAE's position as a crypto hub.
Prospects of Crypto Regulation in UAE
This step aligns with Dubai's ambitions to become an innovative crypto center and allows retail investors to access financial instruments previously reserved for institutional clients. It may also influence further developments in crypto legislation throughout the region.
The launch of OKX's regulated crypto derivatives in the UAE marks a significant milestone in the region's crypto industry development and may foster further changes in financial technology regulation.
