Blockchain

Dubai Police, crypto exchange BitOasis declare cyberwar against crypto scammers

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The Dubai Police have joined forces with BitOasis to combat crime in the cryptocurrency space. Police officers were actively trained to ensure successful collaboration.

The Dubai Police Force and BitOasis, a cryptocurrency exchange based in the United Arab Emirates, teamed up to raise awareness about scams related to crypto investment and trading.

As a major player in the cryptocurrency field, the UAE continuously tests and implements different measures to ensure safe digital asset trading.

Chief Executive Officer Ola Doudin told Reuters that BitOasis’s partnership with the Dubai Police aims to develop rules in the region that will make crypto investments safer for investors.

State policies continue to encourage cryptocurrency adoption and create an enabling environment to work with them, Doudin said.

War against scammers

As a result, Dubai Police and BitOasis have declared cyberwar on cryptocurrency scammers, according to CoinTribute.

“We are working with key policymakers so that crypto investors will be protected by regulated investments,” Doudin said.

UAE regulators approved cryptocurrency trading within Dubai’s DWTCA free zone on Sept. 23 as part of the move to protect investors.

At the same time, BitOasis announced that its surveillance platform, GoAML, run by the UAE Financial Intelligence Unit, would be linking BitOasis’ services for reporting suspicious transactions.

UAE protects crypto investments

The initiatives being carried out by the Gulf state indicate a strong interest in promoting cryptocurrency trading systems, CoinTelegraph reported.

“The UAE is taking an active role in ensuring the financial security of the country, investors, and all stakeholders operating in the crypto space,” Tarek Mohammed, chief of the Dubai Police Department for Combating Virtual Crimeset Crimes, disclosed.

This partnership will also include the active participation of the National Committee against Money Laundering and Financing Terrorism and Illegal Organisations, a state-run organization that develops frameworks that address anti-money laundering and combat financing terrorism.

 

Image courtesy of Cointelegraph News/YouTube

Jet Encila

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Jet Encila

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