To start your cryptocurrency company in Dubai, a crypto trade license is required. The cryptocurrency license is considered in the category of “commercial license”. This “commercial license” is important for all the commercial procedures that involve the trading process in Dubai. The cryptocurrency business and trade in Dubai is linked with the trading of Bitcoins and all other crypto coins. This crypto license grants you permission to do all other major cryptocurrency trading in Dubai.
Each country typically has a set of regulation and compliance requirements for crypto exchanges. In most cases, all crypto exchanges in the UAE must apply and fulfill the requirements from several bodies including the SCA, ADGM, and the respective Free Zone authorities. On top of it, every exchange must also obtain a crypto license issued by the local authority, depending on the Free Zone that they operate in.
Law Governing Crypto Trading in the UAE
Currently, crypto licenses in the UAE are issued by several authorities and Free Trade Zones:
Company must be eligible to apply based on the below criteria:
The company must be able to secure the clients’ financial information to prevent cybercrimes.
Company must follow the legal procedures to obtain the license by doing the following steps:
After that, the respective Free Zone authority will examine the application and once it’s approved, the crypto license will be issued for the company. Suppose the owner of the company is a non-UAE resident, they can then submit an application for a UAE residence visa and open a corporate bank.
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