UAE FZCO crypto service sell

[thepeppes]

Hello guys,
i'm new to the forum
I have a company in the creative city of Fujairah with e-commerce/software etc business for a while now
We have a service that we sell on Telegram
So there is a bot and people send crypto funds to these wallets
The service costs x and we get paid more in bnb
I wanted to know if this is a problem should I open a DMCC or if I can sell these services
Of course we don't kyc on people's purchases and we don't issue invoices.
I would like to know how to proceed since now I will insert it within the company
So whether it ultimately counts as a cryptographic operation or not
Because the idea is that I receive crypto - exchange - AED on wio
Thanks for the help
Have a nice day everyone

 

[Bharat Bajaj]

thepeppes said:
Hello guys,
i'm new to the forum
I have a company in the creative city of Fujairah with e-commerce/software etc business for a while now
We have a service that we sell on Telegram
So there is a bot and people send crypto funds to these wallets
The service costs x and we get paid more in bnb
I wanted to know if this is a problem should I open a DMCC or if I can sell these services
Of course we don't kyc on people's purchases and we don't issue invoices.
I would like to know how to proceed since now I will insert it within the company
So whether it ultimately counts as a cryptographic operation or not
Because the idea is that I receive crypto - exchange - AED on wio
Thanks for the help
Have a nice day everyone
Click to expand...

Hi you consider taking a Zero VISA license from IFZA (Dubai Silicon Oasis) with Activity as Proprietary Trading In Crypto Assets. Please don't declare this to your current banker (Wio I Guess) as UAE bank's are very sensitive for Crypto business and they won't entertain such transactions at all.

 

[wonderfulboy]

Your business considered crypto and UAE banks don't like it.

 

[thepeppes]

Bharat Bajaj said:
Hi you consider taking a Zero VISA license from IFZA (Dubai Silicon Oasis) with Activity as Proprietary Trading In Crypto Assets. Please don't declare this to your current banker (Wio I Guess) as UAE bank's are very sensitive for Crypto business and they won't entertain such transactions at all.
Click to expand...

Ok perfect, but is it legal to receive crypto payments?

Because people can pay automatically, the system generates a wallet to pay for and then automatically sends it to our proprietary wallets

So people just need to send the crypto funds from their wallet to the wallet generated by the bot
No kyc or anything.
No invoices, we don't know the buyers' names, identities or anything else
We sell crypto advertising services

Thanks for the help,
Really appreciated

 

[Clearsky Network]

I would recommend to get legal advise.

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[mytoofood]

how do you sort this license issue out ?

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