Original sourcePulse Alternative
Summary
The Dubai Financial Services Authority (DFSA) updated its crypto rules to prohibit the use, trading, or custody of privacy coins (e.g., Monero, Zcash) and mixers on DIFC-regulated exchanges; personal wallet holdings are unaffected. For stablecoins, it redefines 'Fiat Crypto Tokens' to require backi…
Key points
- Exchanges and issuers operating in the Middle East must immediately adjust listing policies and reserve structures to meet the new compliance framework.
- Dubai's pivot as a global crypto hub will spur other jurisdictions to tighten rules on privacy coins and stablecoins.
- Exchanges may delist affected trading pairs; stablecoin issuers must strengthen asset reserves and redemption mechanisms; investors should be vigilant about liquidity risks for privacy coins.
Editorial note
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