Coinsfera (Dubai Crypto OTC) closed its offices in Dubai

[sinos]

Coinsfera a leading crypto OTC provider in Dubai was at the center of a storm following reports in Bloomberg about its activities. It provided cash transactions for crypto OTC. It also brokered real estate purchases through crypto in Dubai. Following clamp down by Dubai authorities on crypto real estate fundings, it has removed any reference to the Dubai office address from its website. Is this the end of Crypto OTC shops in Dubai? Crypto being banned in Dubai - the result of FATF gray listing.

Bloomberg Coinsfera article

 

[troubled soul]

 

[Martin Everson]

Humm the Bloomberg author might be up to something here?

 

[JohnnyDoe]

Humm the Bloomberg author might be up to something here?

Like most (if not all) journos, he deserves torture.

 

[otccryptoguy]

How can i setup a business like coinsfera. Ive spoken to so many people about it but no clear answer. I have lots of clients in the UK who want to pay cash for crypto. I can comply with AML KYC no problem. Just struggling to find a way to get the cash from the UK back to the foreign crypto friendly account.

 

[newNomad]

How can i setup a business like coinsfera. Ive spoken to so many people about it but no clear answer. I have lots of clients in the UK who want to pay cash for crypto. I can comply with AML KYC no problem. Just struggling to find a way to get the cash from the UK back to the foreign crypto friendly account.

Interested to know too...seems pretty straightforward - choose jurisdiction, incorporate as exchange agent, open some crypto-friendly bank account and good to go
Missing something?