Dubai Blockchain Strategy. Order out of chaos?

[John Doe GOLDEN STAMP]

According to the results of a global study for 2022, the United Arab Emirates ranked second in the world in terms of cryptocurrency penetration among the population. Today, about 34% of UAE residents own or have invested in crypto assets. The state actively supports the crypto industry.

Dubai has adopted the state strategy Dubai Blockchain Strategy, which aims to increase the efficiency of public administration through the introduction of blockchain technologies in various sectors of the emirate's economy. In 2022, the growth in the Dubai blockchain market exceeded the global average by 19%.

The Dubai-based virtual asset regulatory authority VARA has issued a set of new rules for virtual asset providers regulating the activities of all crypto market players in the field of marketing, advertising and promotion, personal data security and the implementation of Know Your Customer (KYC), Anti-Money Laundry (AML) and CDD procedures. The Office for the Regulation of Virtual Assets VARA has issued licenses for operations in the UAE to such major global players as Binance, OKX, Crypto.com , HeavenPay and others.

The conservative banking system of the United Arab Emirates currently acts as a deterrent to the further rapid growth of the country's crypto sector, but thanks to the close cooperation between the specialized regulator VARA and the Central Bank of the UAE, in 2023, the country will have facilities that will allow the free and legal conversion of fiat currencies into crypto assets, which will certainly contribute to a multiple increase in the crypto industry in the Emirates.

If you are interested in this type of business, before that you should study a number of quite interesting and understandable documents from WARA, DWTC (I prefer it). And also get acquainted with the latest FATCA, AM6 and especially AML 7 derivatives.

https://www.vara.ae/en/

 

[Jorozey]

All these CFT, AML6/7/8/20, FATCA etc. BS are corporate and government levers to control the masses... They can only regulate all the shitcoins, web3, DEFI, AI etc and their CBDC tyrant.


Just read Satoshi's white paper, Bitcoin was never designed to be regulated, so "regulations" and Bitcoin will never work together.

When will humanity find some balls and stand up to our overlords?

 

[JackAlabama]

All these CFT, AML6/7/8/20, FATCA etc. BS are corporate and government levers to control the masses... They can only regulate all the shitcoins, web3, DEFI, AI etc and their CBDC tyrant.


Just read Satoshi's white paper, Bitcoin was never designed to be regulated, so "regulations" and Bitcoin will never work together.

When will humanity find some balls and stand up to our overlords?

good call. Best to ignore this global communist gang pushing for all this reg nonsense.

 

[Jorozey]

good call. Best to ignore this global communist gang pushing for all this reg nonsense.

The truth is I can't ignore them, they are a pain in the a*s and it hurts when the masses can't see it or they are afraid or unwilling to talk about it...

 

[boomy]

Just read Satoshi's white paper, Bitcoin was never designed to be regulated, so "regulations" and Bitcoin will never work together.

When will humanity find some balls and stand up to our overlords?

It was not designed to be regulated but now it is and well be even more!

The majority of the population in all countries are like sheep; they follow the masses and would rather avoid all trouble to the extent possible. It's easier just to go along than to rebel against the detestable system shaped by power hungry career politicians who don't know much beyond what they were taught at universities.

......if they even have such a high education and didn't fail in all their subjects.

 

[JackAlabama]

The truth is I can't ignore them, they are a pain in the a*s and it hurts when the masses can't see it or they are afraid or unwilling to talk about it...

of course you can, its just not easy nor convenient. But its very well possible if youre flexible and play your card right.

If youre middle class in western europe or so, then its not easy, but then you need above sentence applies.

 

[Jorozey]

of course you can, its just not easy nor convenient. But its very well possible if youre flexible and play your card right.

If youre middle class in western europe or so, then its not easy, but then you need above sentence applies.

Oh, by "I can't ignore them" I meant that I can't stop being annoyed at the corporate and government laws that dictate and take away people's rights and freedoms.

In Bulgaria, where I live, and in Eastern Europe in general, we are still doing quite well against the crypto regulations of the West

It was not designed to be regulated but now it is and well be even more!

The majority of the population in all countries are like sheep; they follow the masses and would rather avoid all trouble to the extent possible. It's easier just to go along than to rebel against the detestable system shaped by power hungry career politicians who don't know much beyond what they were taught at universities.

......if they even have such a high education and didn't fail in all their subjects.

Oh mate, forget about politicians, are there really people who still believe that politicians are elected by the people and that politicians have any weight in solving problems at all? Come on...