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Could you please clarify for me if cryptocurrency is indeed considered legal within the borders of the United Arab Emirates? I'm also interested in understanding the specific licensing requirements. Does this mean that any business wishing to engage in cryptocurrency trading, such as exchanges or wallet providers, must first secure a license from the Securities and Commodities Authority (SCA)? And what's the process like to acquire such a license? Would it involve meeting certain criteria or submitting specific documentation? I'd appreciate any insights you could share on this matter.
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