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What types of licenses are used for crypto businesses in the UAE?
The UAE offers several types of licenses depending on the chosen jurisdiction. In Dubai Multi Commodities Centre (DMCC) and Abu Dhabi Global Market (ADGM), companies can obtain licenses for virtual asset activities, including exchange operations, brokerage services, custody, and advisory. The Dubai Virtual Assets Regulatory Authority (VARA) issues licenses across 8 specific virtual asset activities, including exchange and brokerage services, wallet management, and token issuance.
Can you operate in the UAE without a crypto license?
No. Since 2023, all crypto-related activities in the UAE require licensing. Operating without a license may result in fines of up to $272,000, asset freezes, and potential criminal liability. The only exception is personal investment without commercial activity. Companies must select a jurisdiction (VARA, ADGM, or DIFC) before starting operations and obtain the appropriate authorization.
Is a physical office required in Bahrain?
Yes. A physical office is mandatory for all CASP license holders. The office must be fully operational (not virtual) and serve as the company’s place of business.
Can a foreign crypto company open a branch in India?
Yes. Several structures are available, including a branch office, a wholly owned subsidiary, or a representative office. The optimal structure depends on the business model, scale of operations, and tax considerations.
Can you serve clients globally with a license from one jurisdiction?
Yes, but with limitations. A VASP license allows crypto operations, but additional registrations or approvals may be required in certain jurisdictions (such as the US or EU). Sanctions regimes and local marketing regulations must also be taken into account.
Why involve lawyers in metaverse projects if it’s an IT product?
Building a 3D environment is primarily a technical task. However, once digital assets, NFTs, or payments are introduced, legal issues arise — including intellectual property rights, data protection, and financial regulation. Legal structuring helps prevent regulatory risks and potential restrictions after launch.
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