Is trading crypto legal in Dubai? UAE citizens can own cryptocurrencies, deposit and trade them. The government has permitted some cryptocurrency exchanges to operate within the financial free zone. In May 2021, the DMCC Crypto Centre was launched to promote cryptographic and blockchain technology in Dubai.
Does Dubai support crypto? Dubai does not consider Bitcoin legal tender, but there aren’t restrictions on buying or selling either. Based on LocalBitcoins volume and Google Trends data, Bitcoin looks alive and well in Dubai. In March 2022, the emirate of Dubai adopted a law to regulate and oversee crypto activities in the UAE.
Is trading crypto allowed in UAE? A bank in the United Arab Emirates will soon allow its customers to trade cryptocurrencies using Emirati currency. RAKBANK announced an agreement with Kraken July 18 that will allow UAE residents to trade digital assets using a local Emirati bank account and dirhams.
Is crypto tax free in Dubai? As we’ve mentioned, in Dubai there’s no Personal Income Tax or law regulating it, and cryptocurrencies are exempt from taxation in its free zones since September 2021.