Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
CRYPTOCURRENCY SETTLEMENTS IN THE UAE
CRYPTOCURRENCY CALCULATIONS IN UAE
Financial Services Regulator of Abu Dhabi Global Market (FSRA-ADGM) was the first to set rules and regulations for buying and selling cryptocurrency. The guidance concerned the regulation of initial coin offerings (ICOs) and digital currencies that allow the general public to buy and sell cryptocurrency. Actual goods will be determined by FSRA-ADGM on a case-by-case basis. The purpose of the ADGM rules and regulations is to enhance transparency, combat financial terrorism and limit money laundering. DMCC (Dubai Multi Commodity Authority) has given traders the opportunity to create a cryptocurrency trading business inspired by ADGM laws.

The most important regulatory act recently passed in the UAE is the Securities and Commodities Authority (SCA) Decision No. 23 of 2020 on the regulation of crypto-assets, which comes into effect on November 1, 2020.
Almost all crypto-asset activities are governed by Regulation, which includes the offer, issue, advertising, listing and regulation of exchanges for trading in crypto-assets, including cryptocurrencies and related activities. All of these activities will require SCA approval and appear to be subject to the same rules that apply to traditional securities. The regulation further expands existing restrictions on money laundering and terrorist financing, such as requiring all licensed entities to treat a client’s transaction with cryptoassets as “high risk” due to client due diligence.
According to Article 48 of the Internet Safety Law, any person who advertises, promotes or encourages the trading of a cryptocurrency not legally recognized in the UAE, and does so without a permit, is liable to imprisonment or a fine of between 20,000 and 500 000 dirhams. As well as making any fraudulent scheme illegal under the Criminal Code, committing cryptocurrency scams online could put people at risk of prosecution under the new law. Article 40 provides for imprisonment for a term of not less than 1 year or a fine of 250,000 to 1 million dirhams, and Article 41 provides for a punishment of imprisonment for a term of up to 5 years or a fine of 250,000 to 1 million dirhams.
Taxation of cryptocurrency activities in the UAE
There is no income tax for crypto businesses in the UAE, which makes it interesting for entrepreneurs. If you use cryptocurrencies to trade or earn from them, you will not pay cryptocurrency tax in Dubai. On the other hand, the UAE has an extremely low VAT rate of 5% since the beginning of 2018. You should seek further advice to assess whether your project is exempt from VAT. And, with rare exceptions, there are no taxes on cryptocurrency in the UAE.
Legal assistance in the UAE – Bitcoin and cryptocurrency.
Therefore, the assistance of lawyers on issues of cryptocurrencies, their mining, the registration of IEO, DeFi and other crypto projects is a set of measures aimed at the registration of such relationships in full compliance with the current legislation of the UAE
The most common questions to our lawyers are:
- Payment for services, works, real estate and other assets in the UAE with Bitcoin (BTC) and Ethereum (ETH). Truth or myth?
- Where in the UAE can you exchange Bitcoin, Ethereum, Ripple and other cryptocurrencies?
- How to buy goods for bitcoin in the UAE?
You can get answers to these and other questions by calling our lawyers or by leaving your phone number.
Crypto exchange in the UAE Buying and selling cryptocurrency in the UAE through YK Prykhodko and partners is profitable and safe. Try us at work!
Importantly! We recommend a mechanism for purchasing certain property for “crypto” by concluding a mining contract. The conclusion of a contract for the sale of goods or services, where payment is made in cryptocurrency, may be declared null and void in a court of law, as crypto, as a currency, is not recognized at the legal level of the UAE. For example, crypto currency in Ukraine is not recognized as a means of payment, and due to some regulations and positions of central authorities, it is equated to surrogate money. Our lawyers are well-versed in all trends in the regulation of cryptocurrency in the world, including in the UAE, guaranteeing the most protected ways of its use.
Calculate the cost of services
1 question
Are you currently in Ukraine?
2 question
Are you currently in the UAE?
3 question
Do you have funds in cash in Ukraine?
4 question
Do you have funds in cash in the UAE?
5 question
Do you have funds in bank accounts in Ukraine?
6 question
Do you have funds in bank accounts in the UAE?
7 question
Do you have funds in cryptocurrency in Ukraine?
8 question
Do you have funds in cryptocurrency in the UAE?
9 question
Do you need a crypto exchange in the UAE?
10 question
Do you need a consultation urgently?
You may also need:
OPENING A BANK ACCOUNT IN GREAT BRITAIN
Read moreOPENING A BANK ACCOUNT IN AUSTRIA
Read moreBANK REGISTRATION IN CYPRUS
Read moreOpening a crypto-friendly account
Read moreOPENING A BANK ACCOUNT FOR A GAMBLING BUSINESS
Read moreOpening an account in a foreign bank
Read moreCompany Registration in Austria
Read moreOPENING A BANK ACCOUNT IN ESTONIA
Read moreREGISTRATION OF A BUSINESS (FIRM) IN POLAND
Read moreREGISTRATION OF A BUSINESS (FIRM) IN THE CZECH REPUBLIC
Read moreCompany Registration in the UAE
Read moreBrand name registration
Read morecall back
during the day
Compensation for moral, material damage
Protection of honour, dignity, and business reputationContract Development for Business and Legal Entities
Licensing of business activities
Compensation for moral, material damage
Legal services in the field of cryptocurrency and blockchain
REGISTRATION OF COMPANIES AND OPENING OF BANK ACCOUNTS
Sale and purchase of ready-made firms
Grants and attracting investment
Business registration and support in Great Britain
Business registration and support in Switzerland
Business registration and support in the EU
Business Registration and Support in the Gulf Countries (GCC)
Business registration and support in Turkey
Business registration and support in USA
Lawyer for administrative cases
Legal services for medical businesses and doctors
Protection of honour, dignity, and business reputation
Real estate transaction support
Escort of the tender participant
Trial lawyer: support and defense in court
European Court of Human Rights (ECHR)



