Home News BitOasis crypto exchange to help Dubai Police spread fraud awareness

BitOasis crypto exchange to help Dubai Police spread fraud awareness

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BitOasis crypto exchange to help Dubai Police spread fraud awareness. In fact, according to the CEO of BitOasis, the exchange has teamed up with the Dubai Police Force. In order to develop safety standards for crypto business in the region.

Significantly, The Dubai Police Force has collaborated with BitOasis, a cryptocurrency exchange based in the United Arab Emirates, to promote awareness regarding cryptocurrency investing and trade fraud.

According to BitOasis CEO, the exchange’s collaboration with the Dubai Police Dep. Is aimed at assisting in the development of legislation. Which will make cryptocurrency secure for investors in the region.

“The BitOasis team has been collaborating with policymakers and regulators to help the crypto industry gain confidence and transparency. Working with the Dubai Police Department is another step in the right direction.”

UAE approved crypto trading within Dubai’s DWTCA free zone

On September 23, UAE officials approved crypto trading within Dubai’s DWTCA free zone, a move aimed at protecting investors. On the same day, BitOasis stated that it will integrate its services with GoAML. Which is a monitoring tool for reporting suspicious transactions developed and maintained by the UAE Financial Intelligence Unit.

The National Committee for Combating Money Laundering, Terrorism Financing, and Illegal Organizations. As well as a state-run institution focusing on developing Anti-Money Laundering and Counter-Terrorism Financing frameworks, will also be actively involved in this cooperation.

UAE is on the right track

The Dubai Police Department is now undertaking rigorous training. In order to comprehend crypto and blockchain, according to Tarek Mohammed, the director of the virtual asset crime department. On the other hand, local investors should be wary of receiving dirhams in exchange for crypto from unknown sources, according to Mohammed.

“(The UAE) is adopting a proactive approach to guaranteeing the country’s, investors’, and other stakeholders’ financial security in the crypto space.”

According to some in the sector, The UAE hopes to gain from its reputation as a worldwide tax haven. And its pro-crypto legislation. The UAE is “doing all the right things” and will “draw a lot of regional initiatives”, according to Stephen Stonberg, CEO of Bittrex Global crypto exchange.

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