The Dubai Financial Authority (DFSA) has implemented strict rules about the use and offering of PRIVACY TOKENS by companies in the Dubai International Financial Centre. According to local authorities, companies are prohibited from using or offering tokens that do not keep transaction records, such as origin and destination, as well as privacy devices such as mixers, scramblers, or obfuscation tools. The reason is to facilitate the monitoring of illegal activities, avoid scams and prevent money laundering. It is extremely necessary for companies to respect traceability, accountability, and compliance if they wish to operate in the DIFC. What do you think of this stance?

mert | helius
@mert
01-12
you'll see a bunch of engagement bait re: "dubai banning privacy coins" to get clicks today, it's mostly bait
i) this was already a thing in VARA, not new
ii) this is for *companies* part of DIFC, not individuals. This is already the case for Europe and many countries

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