Crypto License in UAE
The Crypto Currency business is rising in popularity globally as many investors are looking at diversified options to grow their wealth. The new digital currency is expected to grow into the mainstream of business operations in the coming years.
The Dubai Multi-Commodities Center, Dubai Airport Free Zone and the Sharjah Research Technology Innovation Park are offering crypto license for companies to trade and manage their crypto assets in UAE.
In UAE, depending on the market capitalization, traceability price volatility, etc., the Crypto Currencies are allowed for the trading subject to certain regulations.
For the crypto companies to secure the crypto license:
As an additional step, the investor or company must receive a pre-approval from the UAE’s Securities and Commodities Authority (SCA). The investors must demonstrate strict compliance to the Anti-Money Laundering and Counter-Terrorism Financing Laws of UAE.
Crypto Currency and its support services are in a very nascent and developing stage. Hence, the customer base for the new technology as a whole is evolving as time passes by.
Currently, the Crypto Assets can be owned by two audience groups:
Individuals holding AED 4m in funds or annual income no less than AED 1m who are aware of Cryptocurrency in detail and the risks associated with it. In a nutshell, Crypto Currency is expected to be the next big thing and the acceptance of digital currencies is already at peak levels.
Hence there are immense growth opportunities that investors can tap into by venturing into the Crypto Currency business. To know more about CryptoCurrency License in UAE, talk to our team right away!
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