The Virtual Asset Regulatory Authority (VARA) in Dubai issued an operating license to Komainu, a joint venture involving Nomura, Ledger, and CoinShares. Through its Komainu Connect platform, this license allows Komainu to provide custodial services such as institutional staking and collateral management. Clients can use the platform to deploy digital assets in collateralization scenarios while preserving segregated custody. The UAE has attracted cryptocurrency companies, with VARA becoming the world’s first independent regulator. Due to asset expansions and exchange launches, Komainu sees potential to expand its company in the region.
Coin Centre, a non-profit policy company, has asked Congress to establish clearer crypto legislation, specifically in taxes. In a letter to Senate Finance Committee Chairman Ron Wyden and Finance Committee Ranking Member Mike Crapo, the organization emphasized the need for clarity on the taxation of cryptocurrencies as property as well as a capital gains taxation level. Users may trigger taxable events if there is no de minimis exemption, making cryptocurrencies too difficult for daily payments, particularly in micropayment applications. Since at least 2020, Coin Centre has advocated for such a de minimis exemption.