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The UAE Central Bank along with several other regulators in the UAE are seeking to form new guidelines for crypto services providers.
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One of the key highlights of these rules will be to penalize unlicensed service providers in the region.
Cryptocurrencies are gaining popularity and wide adoption across multiple countries across the globe. The Asia-Pacific (APAC) and Middle Eastern countries are taking the lead. Nations falling in these regions are also putting efforts to make the environment suitable for crypto assets’ growth. But they also focus on safeguarding the investors and take action accordingly. Recently, the UAE Central Bank reportedly published guidance for VASPs.
The Central Bank of the United Arab Emirates (CBUAE), in collaboration with other regulatory bodies in the country, has unveiled comprehensive new guidance for Virtual Asset Service Providers (VASPs) operating within the UAE. The fresh directives are accompanied by a clea
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