QCP receives In-Principle Approval in the Abu Dhabi Global Market (ADGM) [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
SINGAPORE May 7, 2024 /CNW/ -- QCP, a global institutional digital assets company, today announced that they have received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to conduct regulated activities. The decision to make a move into this strategic market for the company's footprint was in anticipation that the Middle East is going to become a dominant global hub for capital flowing into traditional and digital assets. The IPA marks a significant milestone in QCP's journey and commitment towards becoming a regulated digital assets business. A major reason QCP has chosen ADGM as a base for its expansion is that the FSRA exists as the first regulator globally to introduce and implement a comprehensive and bespoke regulatory framework for the regulation of exchanges, custodians, brokers, and other intermediaries engaged in virtual asset activities. The progressiveness in the last few years has also created a strong fou
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