CandleFocus Crypto Banking in the UAE: The Path to Licensing and Compliance
2024-11-26
Author: Content Editor
The article discusses the complexities of obtaining a crypto license in the banking sector, particularly in the UAE where crypto adoption is high. It emphasizes that companies engaging with crypto assets must obtain a license regardless of the regulatory framework or jurisdiction. The licensing process can take several months and involves high costs. Companies must fulfill various requirements, including minimum share capital, liquid net assets, reserves, and insurance. The article highlights the importance of expertise and strong legal and compliance teams in obtaining a license. The overall message is that entering the crypto market requires careful navigation of the licensing process to ensure compliance and foster a secure crypto ecosystem.
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