QuasarStorm
Sat Jun 08 2024
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5 answers
1554
Is cryptocurrency banned in the UAE?｜To operate in the UAE, , covering activities such as exchanges and wallet services. Additionally, strict Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures are mandatory to prevent illicit activities and ensure customer identity verification.cryptocurrency businesses must obtain a license from the SCA
Is cryptocurrency banned in the United Arab Emirates? If not, what are the regulatory requirements for operating a cryptocurrency business in the country? For instance, do exchanges and wallet services need to obtain special licenses? Also, are there any Anti-Money Laundering (AML) or Know Your Customer (KYC) procedures that must be adhered to in order to comply with the law and ensure customer protection?
