Cryptocurrency firms may apply for a license to operate in the UAE

The Securities and Commodities Authority (SCA) of the United Arab Emirates announced on Monday, April 17, that it will accept applications from businesses looking to offer cryptocurrency services in the nation.

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This development occurs after the SCA board of directors authorized the action as part of a plan to make the UAE a Middle Eastern blockchain powerhouse.

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This development occurs after the SCA board of directors authorized the action as part of a plan to make the UAE a Middle Eastern blockchain powerhouse.

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Certain businesses that had aspirations to enter the UAE were given temporary permits. The ambitions to enter the UAE have all been disclosed by Binance, Crypto.com, OKX, and Komainu.

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