Dubai Enforces Full Ban on Privacy Tokens Amid AML Compliance Push đŠđȘđ
Dubaiâs Financial Services Authority has officially banned all privacyâfocused tokens, including Monero and Zcash, across the Dubai International Financial Centre due to antiâmoneyâlaundering and sanctionsâcompliance risks đ«đȘ; regulators argue these tokens make it ânearly impossibleâ to meet FATF transparency requirements.
The prohibition covers trading, promotion, fund operations, and derivatives, extending to privacyâenhancing tools such as mixers and tumblers đâïž; this aligns Dubai with a global regulatory trend tightening oversight on anonymityâbased crypto assets
Despite the crackdown, privacy tokens like XMR and ZEC briefly surged in market interest, highlighting trader sentiment during regulatory stress đâïž;
Dubai simultaneously tightened stablecoin definitions, shifting toward firmâled token suitability assessments for greater transparency.
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