UAE central bank to penalize unlicensed virtual asset service providers

Unauthorized virtual asset service providers will face penalties from the UAE Central Bank

The new guidelines are part of the United Arab Emirates’ (UAE) efforts to be removed from the Financial Action Task Force’s (FATF) “grey list,” according to UAE attorney Irina Heaver. Recently, the Central Bank of the United Arab Emirates (CBUAE) and other regulatory bodies in the country have released updated cooperative guidelines for virtual asset…

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