UAE KARM Legal signs agreement for crypto compliance services in MENA
KARM Legal Consultant PVT Limited, a UAE legal consultancy firm specialized in Corporate Blockchain, Fintech and Data Protection/Cyber laws, signed a long term collaboration agreement with Swiss based ScaleCompliance GmbH offering the most advanced crypto compliance services for clients in UAE, GCC, and MENA region.
Opened recently in DMCC Dubai, ScaleCompliance is a collective experience of over 50 years in the areas of finance, Fintech, law, and technology. The company provides regulatory compliance framework and processes. ScaleCompliance has a strong experience in Switzerland and is globally offering a KYC/AML platform that delivers fast and accurate verifications. ScaleCompliance also offers crypto wallet and transaction screening services, as well as any type of support with onboarding clients.
“I am personally excited to witness this partnership between KARM and ScaleCompliance. Joining efforts and experiences is adding value to the ecosystem that has been growing at a rapid pace in DMCC. With more valuable players joining and such partnerships, this will help strengthen and grow the Blockchain and Crypto ecosystem in the UAE and the region.” said James Bernard, Regional Representative Europe at DMCC.”
KARM Legal has partnered with ScaleCompliance as part of its efforts to expand and diversify its collaborations in the crypto, blockchain, tokenization, FinTech, NFT, egaming, crowdfunding and emerging tech, regulatory compliance fields. The firm was formed because of the need to integrate tech and code in law. KARM Legal operates as a digitally native legal consultancy rather than a traditional law firm.
The UAE has become a leading blockchain and crypto assets hub. Recent research by Triple A states that the UAE has 152,077 crypto owners which is 1.54 percent of the population. In addition UAE has been developing its regulations in the blockchain, fintech and crypto assets sectors over the past years and now boasts of more than four regulated exchanges with Binance crypto exchange showing interest as well.
“All these developments will require highly developed compliance solutions and services. The new partnership will ensure that the growth of the crypto ecosystem will be complemented with protection of users and institutions.” added Alagh.