VAE beginnen mit neuer Lizenzierung für VASPs

• Die VAE haben in den letzten Monaten einen Boom bei digitalen Vermögenswerten erlebt.

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The United Arab Emirates (UAE) is fast becoming a hub for digital assets, and regulators in the country are taking steps to advance this growth. The UAE’s financial regulatory body has angegeben dass es damit beginnen wird, Lizenzanträge von Unternehmen anzunehmen, die Virtual-Asset-Dienste in der Region anbieten möchten.

The Securities and Commodities Authority (SCA) requires all virtual asset service providers (VASPs) operating in the UAE to submit an application and get a license from the regulator. This is however with the exception of those authorized in the nation’s financial free zones.

However, Dubai-based digital asset companies will be required to comply with the region’s financial regulator, the Virtual Asset Services Authority (VARA). These businesses must also submit an application to VARA and get a license.

The SCA formally declared on February 1 that it is taking on the tasks of regulating and overseeing the virtual asset industry. The goal of the decision, according to the SCA, is to “ensure the protection of investors’ funds in virtual assets from illegal practices.”

The SCA further stated that any transactions involving virtual assets for investment purposes, including those taking place in the nation’s non-financial free zones, are covered by the resolution. The regulator did, however, set some limitations. It said about the limitations:

Seine Bestimmungen gelten nicht für virtuelle Vermögenswerte, die für Zahlungszwecke verwendet werden, da sie der Zuständigkeit der Zentralbank unterliegen. Sie gelten auch nicht für finanzfreie Zonen.

The UAE’s strong strategy for regulating virtual assets is a reflection of its dedication to ensuring a safe and progressive financial ecosystem. Authorities in the country are keen on ensuring that digital asset providers stay diligent in their compliance efforts to avoid legal consequences and maintain their competitive edge in this schnelllebiger Markt.

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