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DMCC Crypto Centre Opening

Thanks for responding:
1) How do you know theres so many applications and that kyc is a problem?
2) As a veteran crypto trader, what other route would you suggest (i'm new to the setup in dubai)?
A route were you get a local Business & Personal Bank Account done.

You end up with the DMCC Crypto License banking on an EMI or with one of the rar Crypto(-friendly) banks in Switzerland/Liechtenstein.

However what we observe from clients is that nobody is willing to provide a 7 figure fiat amount that is necessary to get into a banking relationship with the Switzerland/Liechtenstein banks.

Furthermore most clients have a completely misunderstanding of there KYC/AML and Source of Funds requirements and making big eyes when they see how the compliance work.

So all in all you have effectively with a DMCC Crypto License the same banking possibilities as with a BVI company or similar Tier of reputation.
 

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