In Brief:
- The Dubai police teams-up with a crypto exchange BitOasis
- The Dubai HQ said the department is undergoing extensive training to understand crypto and blockchain technology
- The BitOasis is linked with the GoAML platform of the UAE’s Financial Intelligence Unit.
The Dubai Police force teamed-up with a crypto exchange BitOasis situated in the United Arab Emirates to raise awareness about scams related to crypto investment and trading.
The Dubai Police’s latest goal is to generate awareness and take needful steps to ensure financial safety in the region.
BitOasis CEO Ola Doudin said, “the crypto space cannot grow, and the growth cannot be sustainable if we don’t have regulation. We have been working with key policymakers to help them build regulation that will make it safe for investors.”
Exp Tarek Mohammed, Head of the Virtual Asset Crime Section, Dubai Police HQ, said, “the department is undergoing extensive training to understand how the crypto and blockchain technology works.”
The UAE regulator approved crypto trading within Dubai’s DWTCA free zone on Sept 23. It also announced that BitOasis is linked with the GoAML platform launched by the UAE Financial Intelligence Unit.
The exchange team is honored to be working with the National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations (NAMLCFTC) and the UAE Financial Intelligence Unit (UAE FIU).
According to Mohammed, the UAE is taking a hands-on approach to ensuring “the financial security of the country, investors and all stakeholders operating within the crypto space.”
Prior to this, the government of UAE adopted Blockchain Technology for authentication services offered by the Ministry of Justice.
