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The securities and commodities authority (sca) monitors bitcoin's activity in the uae.
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Providers must be licensed by the sca. What is clear is that the uae government is committed to develop its own cryptocurrency. The legislation as stipulated in the crypto assets law aims to regulate the issuance, trading or crypto assets in the uae with all the financial activities related to that. There is no ban on trading crypto currencies in uae. The uae's securities and commodities authority (sca) has published the authority's chairman of the board of directors decision no.
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Www.arabianbusiness.com the legal status of bitcoin and cryptocurrency within dubai is unclear, as the central bank of the uae does not consider virtual currencies to be legal tender.
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