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<div class="cryptonews">
 <p class="is-style-lead">The Dubai Financial Services Authority (DFSA), the financial <a rel="noopener noreferrer nofollow" title="regulator" href="https://thebittimes.com/tag/regulator.html">regulator</a> of the special economic zone, Dubai International Financial Centre, has approved TonCoin (TON) and XRP. The two now join Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).</p>
 <p>This approval means that financial institutions in the Dubai International Financial Center can now conduct transactions with these tokens.</p>
 <p>Ripple opened its Middle East and North Africa headquarters in DIFC last year, and about 20% of its customers are in this region, according to the company.</p>
 <blockquote class="wp-block-quote">
  <p>“It’s refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub intent on attracting foreign investment and accelerating economic growth.”</p> <cite>Brad Garlinghouse, Ripple CEO</cite>
 </blockquote>
 <p>In February 2023, the Regulation on Virtual Assets and Related Activities came into force in Dubai, which finally regulated the Virtual Asset Service Provider(VASP) licensing process and clarified aspects of AML/CFT and marketing. Sanctions have been established for violation of this legislation.</p>
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 <p>The DIFC has introduced a licensing regime, with the Dubai Financial Service Authority (DFSA) acting as an independent <a rel="noopener noreferrer nofollow" title="regulator" href="https://thebittimes.com/tag/regulator.html">regulator</a>.&nbsp;</p>
 <p>The approval comes after The Open Network (TON) blockchain&nbsp;set&nbsp;a world record during public testing, completing 104,715 transactions per second (TPS).&nbsp;</p>
 <p>In 22 minutes, the network processed more than 107m transactions, with a peak TPS of 111,498.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dubai-regulator-approves-xrp-ton-tbt68947.html">https://thebittimes.com/dubai-regulator-approves-xrp-ton-tbt68947.html</a></p>

Dubai regulator approves XRP, TON

TheBitTimes

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