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The Central Bank of the United Arab Emirates (UAE) published a new guide this morning encompassing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures applicable to all institutions and businesses providing services related to cryptocurrencies such as banks, finance companies, currency exchanges, and payment service providers. 
<h2 style="text-align: justify;" id="b-span-data-contrast-auto-crypto-regu-span-b-l-b-span-data-contrast-auto-ations-expanding-in-uae-span-b-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Crypto Regulations Expanding in UAE </h2>
In recent times, authoritative bodies in many countries have begun to accelerate <a href="https://en.coin-turk.com/renowned-cryptocurrency-analyst-predicts-major-surge-for-popular-altcoin-is-solana-sol-a-worthwhile-investment/" target="_blank" rel="noopener" data-wpel-link="internal">cryptocurrency</a> regulations. Some countries have adopted a more liberal approach to crypto regulations, while others have taken stricter measures by introducing restrictive regulations to a certain extent. The UAE has now made a significant move with the goal of preventing the use of cryptocurrencies for money laundering. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-81407 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/05/bitcoin-27.png" alt="" width="1526" height="852" srcset="https://en.coin-turk.com/wp-content/uploads/2023/05/bitcoin-27.png 1526w, https://en.coin-turk.com/wp-content/uploads/2023/05/bitcoin-27-300x167.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/05/bitcoin-27-768x429.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/05/bitcoin-27-1200x670.png 1200w" sizes="(max-width: 1526px) 100vw, 1526px" />
Today, the Central Bank of UAE issued a new guide outlining AML/CFT measures covering all institutions and businesses offering services related to cryptocurrencies including banks, finance companies, currency exchanges, and payment service providers. 
These regulations are expected to affect all licensed financial institutions in the UAE, including banks, finance companies, currency exchanges, payment service providers, and insurance companies. 
<h2 style="text-align: justify;" id="b-span-data-contrast-auto-comments-from-uae-central-span-b-bank-b-span-data-contrast-auto-governor-on-new-measures-span-b-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Comments from UAE Central Bank Governor on New Measures </h2>
In his remarks on the subject, the Governor of the UAE Central Bank stated that &#8220;the new guide on the virtual assets sector contributes to strengthening the regulatory and supervisory frameworks of the Central Bank in combating money laundering and the financing of terrorism.&#8221; He further added: 
<blockquote>
We continuously strive to increase measures and strengthen the awareness of licensed financial institutions in accordance with the Financial Action Task Force standards, with the goal of preventing any form of financial crime activity, protecting the financial and monetary system, and maintaining its stability by minimizing potential risks.
</blockquote>
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United Arab Emirates Introduces New Crypto Regulations to Prevent Money Laundering

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