UAE Executive Office of Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) has welcomed the confirmation that UAE based BitOasis, crypto asset exchange, will be registered with the UAE Financial Intelligence Unit’s (UAE FIU’s) reporting platform, GoAML, helping to add yet another layer of security for both fintech start-ups and the national economy.
“We are delighted to have the UAE’s first fintech start-up, BitOasis, being registered with the UAE Financial Intelligence Unit’s GoAML integrated platform. As a strategic step, this decision will ensure that homegrown fintech start-ups are able to meet compliance requirements as set out by the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations (NAMLCFTC),” said Ali Baalawi, Director of UAE FIU.
Speaking on behalf of Dubai Police GHQ, Tarek Mohammed, Head of the Virtual Asset Crime Section, commented, “BitOasis, as the UAE’s first virtual asset service provider to be registered with the FIU’s GoAML is a forward-thinking step by NAMLCFTC and the FIU to safeguard the economic security of the country while empowering our fintech start-ups.”
According to the company’s website, BitOasis is trading over 15 digital assets to buy, sell and trade against the UAE Dirham. Bitoasis recently received regulatory approval from ADGM ( Abu Dhabi global market)