Crypto.com, Bybit announce plans to set up operations in Dubai

Cryptocurrency exchanges Bybit and Crypto.com has announced plans to set up operations in Dubai, as the emirate steps up efforts to attract companies in the fast-growing industry.

The exchanges join global rivals like Binance Holdings Ltd. and FTX in expanding in the UAE, which is seeking to develop a crypto-friendly reputation even as other financial centers tighten oversight. Singapore, where Crypto.com is based, earlier this year instructed crypto companies to refrain from consumer-facing marketing in a bid to limit speculation in digital assets.

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