Skip to content

UAE Readies National Crypto Licensing in Push to Embrace Fintech

  • Companies including Binance are considering bigger presence
  • Official says the UAE wants to build crypto mining ecosystem

The United Arab Emirates is poised to issue federal licenses for virtual asset service providers by the end of the first quarter in an effort to attract some of the world’s biggest crypto companies, according to a government official. 

The Securities and Commodities Authority is in the final stage of amending legislation to allow VASPs to set up, said the official, who requested anonymity due to government policy.