Updated on | Posted in Cryptocurrency

BitOasis crypto exchange to help Dubai Police spread fraud awareness

BitOasis, a cryptocurrency alternate from the United Arab Emirates, has partnered with the Dubai Police Force to elevate attention approximately frauds associated with crypto funding and trades.

The alternate’s partnership with the Dubai Police is meant to assist construct guidelines with a purpose to make crypto secure for traders withinside the region, BitOasis CEO Ola Doudin stated. Speaking to Cointelegraph, Doudin stated:

The flow to protect traders coincides with UAE regulators’ choice to approve crypto buying and selling inside Dubai’s DWTCA loose sector on Sept. 23. On the identical day, BitOasis introduced it became linking its offerings with GoAML, a surveillance platform constructed and operated through the UAE Financial Intelligence Unit, for reporting suspicious transactions.

This partnership can even see the lively involvement of the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations, a state-run company centered on constructing Anti-Money Laundering and Combating the Financing of Terrorism frameworks.

Tarek Mohammed, head of the digital asset crime phase on the Dubai Police, stated that the branch is presently present process enormous education to recognize crypto and blockchain. Mohammed warned neighborhood traders from accepting dirhams for cryptocurrencies from nameless sources, adding:

Related: Billion-greenback Bitcoin mining enterprise resumes in Iran after three-month ban

According to a few withinside the enterprise, the UAE stands to advantage from its repute as a international tax haven and its pleasant coverage in the direction of cryptocurrencies. Stephen Stonberg, CEO of Bittrex Global crypto alternate, stated in advance in August that the Emirates are “doing all of the proper matters and they’re going to draw plenty of local projects.”