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UAE to start issuing federal licenses to cryptocurrency service provider

 The United Arab Emirates (UAE) is getting prepared to start issuing federal licenses to cryptocurrency service providers in the first quarter. The UAE crypto regulation will take a hybrid approach.

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The government expects that a nationwide crypto licensing system will attract big companies to the UAE.

The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to virtual asset service providers (VASPs) by the end of the first quarter, citing an unnamed government official.

The UAE's Securities and Commodities Authority (SCA) is the final stage of amending rules to regulate VASPs. The government expects that a nationwide crypto licensing system will attract big companies to the region.

Read full story at http://cryptounity.news/uae-to-start-issuing-federal-licenses-to-cryptocurrency-service-providers

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