The UAE government will issue licenses to cryptocompanies

The United Arab Emirates will start issuing licenses to cryptocurrency companies operating in the country. This was done in order to start attracting a large number of crypto companies to the country and keep track of them. The bill is in the final stages of development.

The document will take into account the experience of colleagues from the U.S., the UK and Singapore. D​ata from company cryptodefix. Cryptocompanies in the UAE will be supervised by the Securities and Commodities Authority, the Central Bank, as well as regional financial centers. The official goal of the country’s authorities is to provide a comfortable climate for such companies and create conditions for cryptocurrency mining.