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Policy & Legal Updates

UAE-Led Global Operation Blocks 123m Online Fraud Attempts and Identifies $39bn Assets

A UAE-led international operation thwarted over 123.71 million online fraud attempts and identified more than $39 billion in fraud-linked assets. The three-month crackdown involved law enforcement from 30 countries, including China, alongside international organisations and major private technology firms. The initiative led to the arrest of over 960 individuals, the blocking of 4,126 bank accounts, and raids on 29 fraud centres.

Policy & Legal Updates

Dubai OTC Crypto Desks Operate Under VARA Rules and UAE Tax Framework

Dubai's over-the-counter crypto trading desks facilitate bilateral transactions for institutional clients, with transaction minimums typically starting around $100,000. Dubai's Virtual Assets Regulatory Authority had issued approximately 50 crypto licenses by June 2026. The UAE applies a 0% personal tax on crypto gains, while crypto-to-crypto transfers remain VAT-exempt.