Crypto firms now able to set up in Dubai free zone

[troubled soul]

https://www.khaleejtimes.com/business/local/crypto-firms-now-able-to-set-up-in-dubai-free-zone

 

[petal355]

is this licence for daytraders who trade their own balance or only for platforms/icos etc‌ ?

 

[Martin Everson]

Not sure what banks in Dubai would work with such future crypto freezone firms. Also‌ not sure which international banks would even respect a DMCC Crypto license 😕.

 

[Fred]

Just talked to banker today about this - forget about Dubai⁠ banks for such a license.

 

[EuroKiss]

Why not? In which other country have been issued a license⁠ for crypto asset trading (for example for a legally authorized STO)?

 

[troubled soul]

https://landing.dmcc.ae/cryptovalley
As I see that , It is only for blockchain and crypto space .‌
Not for Crypto to fiat solutiuon.
Suitable for those business where there is no bank‍ account require.
Businesses which works with only crypto.

Waiting for more update.

May be some⁠ time after they stop issuing this license. Who know future?

 

[Fred]

Exactly.

And for such a venture you can incorporate nearly everywhere - even the Seychelles⁤ already introduced blockchain audits for digital assets.

Hopefully not many people that are looking for⁣ Crypto to Fiat cashout solutions get misleaded and endup without having any bank account.

 

[EuroKiss]

Do anybody knows which is the best license for a STO? I mean, with clear‌ legal path for security tokenization for physical assets?