Dubai bans the use of privacy tokens at the Dubai International Financial Centre
the Dubai financial regulatory authority has banned the use of privacy tokens in the Dubai International Financial Centre due to anti-money laundering and sanctions compliance risks. This ban is part of a comprehensive update to its cryptocurrency rules by the Dubai financial regulatory authority, which also includes shifting token approval responsibilities to companies and tightening the definition of stablecoins.
The updated crypto token regulatory framework will take effect on January 12, positioning the Dubai Financial Services Authority as a regulator focused no longer on approving individual crypto assets but on enforcing global compliance standards.
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