Enjinstarter's AYA platform, a climate-focused launchpad supporting sustainability innovations, has received a conditional license from Dubai's Virtual Assets Regulatory Authority (VARA) for offering crypto asset and investment services. The license is non-operational until all conditions and localization requirements defined by VARA are satisfied. AYA focuses on initiatives like reforestation, nature credits, mangrove conservation, and sustainable agriculture. Enjinstarter aims to comply with VARA's process, and AYA continues its collaboration on climate action projects, including mangrove planting in Dubai.
Enjinstarter's AYA platform, a climate-focused launchpad supporting sustainability innovations, has received a conditional license from Dubai's Virtual Assets Regulatory Authority (VARA) for offering crypto asset and investment services. The license is non-operational until all conditions and localization requirements defined by VARA are satisfied. AYA focuses on initiatives like reforestation, nature credits, mangrove conservation, and sustainable agriculture. Enjinstarter aims to comply with VARA's process, and AYA continues its collaboration on climate action projects, including mangrove planting in Dubai.
Key Points:
Conditional License Granted: Enjinstarter's AYA platform has received a conditional license from Dubai's Virtual Assets Regulatory Authority (VARA) for offering crypto asset and investment services.
Non-Operational Status: The license is non-operational until Enjinstarter fulfills all remaining conditions and localization requirements defined by VARA, subject to regulatory verification and approval.
AYA Platform Focus: AYA is a climate-focused launchpad supporting sustainability innovations, including reforestation, nature credits, mangrove conservation, and sustainable agriculture.
Regulatory Compliance: Enjinstarter expresses its willingness to comply with the process laid out by VARA to meet the necessary conditions for an operational license.
Collaboration on Climate Action: AYA continues its collaboration with The Storey Group on a campaign to plant mangroves in Dubai as part of climate action projects.
Agile Regulatory Approach: VARA aims to remain agile and collaborative, responding swiftly and effectively to market needs in the crypto and blockchain space.
Consultative and Collaborative Approach: VARA engages in conversations with industry leaders, innovators, peer regulators, and legislators, ensuring comprehensive and resonant guidelines.
Enjinstarter's AYA platform, with a focus on climate sustainability, has received a conditional license from Dubai's VARA. The license is non-operational until all specified conditions are met. AYA collaborates on initiatives like mangrove planting in Dubai and aims to comply with VARA's regulatory process. VARA adopts an agile and collaborative approach in crafting guidelines and engaging with stakeholders in the crypto and blockchain space.
(ARIJIT SARKAR, COINTELEGRAPH, 2023)