To acquire a cryptocurrency license in Dubai, you must be incorporated in an economic-free zone, have sufficient capital, comply with all free zone business setup procedures, and be approved by the UAE Securities and Commodities Authority. Once you have received this license, you can begin offering crypto assets. If you are interested in learning more, please read the following sections. You can apply for a cryptocurrency license in Dubai here.
DMCC Free Zone Authority:
If you have been planning to launch a cryptocurrency exchange in the UAE, you may have heard about the DMCC Free Zone Authority’s requirements for obtaining a crypto license in Dubai. But what are the actual requirements to launch a cryptocurrency exchange in Dubai? To get a license, you must have at least six months of capital and comply with all regulations. The DMCC also requires you to have a business plan and specify what you will do with the license. After all, the license doesn’t mean that you can start a cryptocurrency exchange in the UAE.
Commercial license:
If you plan to launch a commercial cryptocurrency venture in Dubai, you must acquire a commercial cryptocurrency license. A Dubai cryptocurrency license allows you to conduct business activities related to cryptocurrencies and virtual currencies, such as selling, purchasing, and transferring them. However, it comes with certain regulatory requirements, including having a capital share of AED 500, 00 or higher and undergoing a background check. For more information, you can contact experts who can provide consultation on the requirements and process of acquiring a license in Dubai.
To obtain a commercial cryptocurrency license in Dubai, you must register the company with the relevant authorities. The Department of Economic Development will issue a license to a startup that intends to operate in a specific area. The government will also require you to hire a local agent to trade in the UAE. You can also choose a free zone and apply for a commercial cryptocurrency license through the managing authority of your chosen free zone.
Distributed Ledger Technology Services license:
The first step in opening your own Distributed Ledger Technology Services Company in Dubai is to obtain a business license. Whether you intend to run an exchange or launch an initial coin offering (ICO), you will need a license from the UAE Financial Services and Retail Authority (FSRA). In addition, the regulations for ADGM state that a crypto-asset exchange must be licensed and approved by FSRA. Moreover, you will also need to adhere to government regulations regarding cyber security and the secured information of your clients.
