Do crypto firms need a license to operate in Dubai?

Crypto firms must obtain authorization and relevant licenses to operate in Dubai, the jurisdiction's new virtual asset rulebooks say. The extensive rules published Tuesday detail requirements for companies from cybersecurity norms to compliance and risk-management standards.

What are the best crypto platforms in the UAE?

After firmly establishing itself as a business hub, the UAE is becoming one of the best crypto platforms worldwide. The Dubai Multi Commodities Centre (DMCC) free zone recently launched a dedicated crypto centre. The crypto centre caters to the unique needs of a Cryptocurrency Company in Dubai, UAE.

What are Dubai's cryptocurrencies regulatory authority rulebooks?

A separate set of rulebooks address specific activities like issuance, advisory, custody and exchange services. All activities and firms fall under the supervision of the Virtual Assets Regulatory Authority (VARA), set up last year to oversee the sector as Dubai aims to attract crypto and blockchain companies.

Are Dubai's crypto licensing costs 'peanuts'?

While Tabbaa called the licensing costs “peanuts” when compared to other operating costs like hiring workers or maintaining offices locally, and compliance fees are not something crypto companies focus on when looking to enter a market, even he admitted some of Dubai’s fees can be considered to be on the expensive side.