CFIX receives preliminary approval as Dubai virtual asset broker… operations to follow official license

CFI Group’s Dubai-based crypto subsidiary CFIX has secured in-principle approval from the Dubai Virtual Assets Regulatory Authority (VARA) to operate as a broker-dealer, with the approval recorded on VARA’s public register as of September 29. The preliminary status covers intermediation and execution of trades but does not yet extend to exchange or custody services, and CFIX cannot begin offering virtual asset services until it obtains a full license. The approval matters because it moves CFI’s crypto arm closer to entering the UAE’s regulated digital-asset market, which has attracted multiple global exchanges and brokers seeking VARA authorization. What to watch next is whether CFIX converts the in-principle approval into a final broker-dealer license and whether its scope is later expanded to additional activities such as exchange or custody.