Can a UAE DPMS accept payment in virtual assets or cryptocurrency?
Nothing in the AML law prohibits it, but it changes what the dealer must do. Virtual assets are squarely within the framework: the definition of funds expressly covers electronic, digital and cryptographic assets, and money laundering includes commission through digital systems, virtual assets or cryptographic technologies.
Two obligations bite. Accepting a new payment method is the use of a new business practice or technology, so the dealer must identify and assess the resulting money laundering, terrorist financing and proliferation financing risks before launch or use, and take appropriate measures to manage and mitigate them. And the dealer must not deal in virtual assets characterised by total anonymity, or that prevent or obstruct the authorities from tracing a transaction or its parties: that is a criminal offence carrying imprisonment of not less than three months and a fine of not less than AED 50,000, or either. Note also that the AED 55,000 DNFBP trigger is framed around cash transactions.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 1: Funds and Money Laundering expressly cover digital, cryptographic and virtual assets; Article 30(2): the anonymity-enabling virtual asset offence.
· Cabinet Resolution No. 134 of 2025, Article 24: assess and mitigate the risks of new products, practices and technologies before launch or use; Article 3(3): the cash-based DNFBP trigger.
For more details, refer to the Executive Regulations or seek guidance from your AML compliance officer.
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