45 lakh) that crypto firms will have to cover if they wish to bag a licence in Dubai. The Emirate has also decided to levy an annual supervision fee of around $55,000 (roughly Rs. 22 lakh) for crypto firms seeking operational permissions, CoinDesk said in its report. These rules aim to slash the after-effects of any crypto slumps.ĭubai has now imposed an application charge of $27,000 (roughly Rs. In addition, several other rulebooks have been compiled outlining the laws around activity-based services around the crypto sector. Four rulebooks have been prepared for crypto service providers, detailing the regulations. The city has now released a set of new regulations that would be mandated to be adhered to by crypto firms looking to operate from Dubai. Dubai has been taking several pro-crypto steps to establish itself as a crypto hub.
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