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Could you please elaborate on the compliance requirements for cryptocurrency in the United Arab Emirates? Specifically, how does the Risk-Based Approach (RBA) factor into these regulations? I understand that the Securities and Commodities Authority (SCA) implemented this approach in 2018 through Federal Law No. However, I'm interested in knowing more about how Virtual Asset Service Providers (VASPs), such as crypto trading platforms, are required to adhere to the national federal Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations mandated by the SCA. Could you provide some insight into this?
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