BitOasis Decides to Commit the Consumer Protection and Government Cooperation in the UAE Crypto Security Assurance
BitOasis, the UAE’s and MENA’s largest crypto exchange, is boosting up its efforts to train the public about the benefits of cryptocurrency investments.
Legislators all over the world are debating the best method to regulate bitcoin businesses. We’re seeing an increasing number of regulators take fast steps to deepen their understanding of your client (KYC). However, they are working to tighten money laundering (AML) protocols to protect the crypto ecosystem from criminal financial activity.
The United Arab Emirates has risen to prominence in designing a system for evaluating virtual assets, which will improve transparency and trust in the country’s emerging crypto market. Cryptocurrency security, on the other hand, starts with every one of us.
BitOasis has engaged with key authorities and government partners in recent months, including the Central Bank of the United Arab Emirates. Where we are directly connected to the Financial Intelligence Unit’s Go-AML platform, the Executive Office for Combating Money Laundering and Counter-Terrorism Financing (AML / CTF), and the Dubai police.
All of whom are working to make cryptocurrency trading secure for everyone in the UAE. That being stated, every crypto trader and investor has a responsibility to keep our cryptocurrency market safe for the general public.
Residents of the UAE can gain safe access to the crypto world by using a supervised crypto-asset exchange that collaborates with government officials. As an investor, you should avoid investing in traditional financial assets such as stocks, currencies, commodities, and the like on unregulated platforms.
When dealing with a regulated crypto exchange, the same rationale should apply. The goal is to safeguard your investment, therefore compliance and engagement with government stakeholders are critical.
Sellers and buyers of digital currencies must meet rigorous KYC standards on centralized cryptocurrency exchanges like BitOasis. This KYC conformance is a competitive edge in the cryptocurrency industry since it protects platform users from becoming unwittingly entangled in money laundering schemes.
Crypto assets have gone from being regarded as a purely speculative asset class to being included in the portfolios of a rising number of individual and institutional investors. UAE regulators and policymakers have been working closely with BitOasis.
In order to develop processes and structures to safeguard the UAE crypto ecosystem. Such measures will assist cement the UAE’s status as a worldwide cryptocurrency and blockchain powerhouse, as well as play a significant part in the region’s crypto space’s growth in the years ahead.
Are you wanting to diversify your bitcoin portfolio or make your first cryptocurrency investment? You can visit BitOasis, the MENA’s most reliable, and largest crypto platform, where you may choose to select over 20 digital currencies.