The United Arab Emirates’ Securities and Commodities Authority (SCA) said on 8^th March, it had finished a consultation on money laundering and terrorist financing risks in the sector and is close to issuing virtual asset investment regulation. To overcome the image as a hotspot for illicit money, the UAE has tightened up regulations and has been pushing to develop virtual asset regulation to attract new forms of business as regional economic competition heats up.

https://www.sca.gov.ae/ar/media-center/news/8/3/2022/statement-about-the-regulatory-and-supervisory-framework-to-assure-amlcft-compliance-across-67c64b33.aspx