• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • PPP MENA Forum, UAE (September 10-11, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Fintech Revolution Summit, Vietnam (September 24, 2025)
    • CoinFerenceX, Singapore (September 29-30, 2025)
    • ChainUp, Singapore (September 30, 2025)
    • TOKEN2049, Singapore (October 1-2, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • HODL, Dubai (October 30-31, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • Fintech Revolution Summit, Saudi Arabia (November 3, 2025)
    • Mining Disrupt, Dallas (November 11-13, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
    • Digital Assets Forum, London (February 5-6, 2026)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
Visit European Blockchain Convention, Barcelona on October 16-17, 2025
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

UAE is set to welcome crypto licensing 

February 26, 2022 By Crypto Reporter

Authorities are ready to issue federal licenses to local virtual assets service providers

In a bid to embrace the fintech sector, the United Arab Emirates is getting ready to issue national licenses to virtual asset service providers (VASPs) by the end of the first quarter and attract more industry players into the country, according to government officials.

The move is expected to broaden the presence of crypto giants like Binance and Kraken, and will allow to compete with rival financial hubs like Hong Kong and Singapore, where the regulatory framework for digital assets is in full swing.

In advancing the legislation, Abu Dhabi is considering strategies adopted by the US, UK and Singapore, as well as taking a note of the Financial Action Task Force guidance. The government believes proper regulation can diminish threats associated with virtual assets, rather than a complete ban.

The oversight will be based on a hybrid approach. The Securities and Commodities Authority will handle regulation propped by the central bank, while local financial institutions and free zones can lay out routine licensing requirements.

With $26 billion yearly transaction volume (from July 2020 to June 2021), the UAE crypto market is relatively small in global terms, lagging behind Turkey and Lebanon, but the growth potential is huge, expanding by 1,500% from a year before, as Chainalysis data shows.

Filed Under: General News, News Tagged With: cryptocurrency, news, regulations, UAE

Primary Sidebar

Follow Us

Press Releases

The 5th PPP MENA Forum Sets the Stage for Strategic Growth in Regional Infrastructure

September 10, 2025

Why Ozak AI’s 900% Presale Surge Has Ripple, Cardano, and Polkadot Investors Flocking for Profits

September 10, 2025

Top 6 Coins for 2025: Solana (SOL), Little Pepe (LILPEPE) & More Offer Huge Upside Potential

September 10, 2025

Top Crypto Presales to Buy in September 2025: Nexchain, Pepe Dollar, BlockDAG, And JetBolt Gain

September 10, 2025

Top 100x Potential Crypto Gainers for 2025: Nexchain & Bitcoin Hyper Gain Huge Investor Interest

September 10, 2025

PPP MENA Forum

TOKEN2049

Forex Expo Dubai

Merge Madrid

HODL

Futurist Conference

Digital Asset Forum

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter