UAE Strengthens Crypto Oversight With AML/CTF Rules, Policymakers Talk With Hong Kong Regulators

Summary: The Central Bank of the United Arab Emirates published rules for businesses and institutions interacting with cryptocurrencies and digital assets. The UAE’s new guidance will oversee anti-money laundering and counter-terrorism financing checks in compliance with the Financial Action Task Force (FATF) international standards. Policymakers from the UAE and Hong Kong are working together on developing digital asset laws as both regions move to establish themselves as global crypto hubs. On May 31, the United Arab Emirates (UAE) Central Bank