Deribit FZE, the Dubai-based subsidiary of the global leading cryptocurrency options exchange Deribit, has announced that it has obtained a conditional virtual asset service provider (VASP) license. This license allows Deribit FZE to operate as a virtual asset exchange for spot and derivatives trading, but it remains non-operational until all regulatory requirements and conditions from Dubai's virtual asset regulators are met. Once the license is effective, Deribit will be able to serve institutional and qualified investors, and continue to serve retail investors through its brokerage affiliate based in Panama.