
Greylisted UAE, Their Dangerous Crypto-Friendly Approach, And What It Means For Investors!
In March 2022, the United Arab Emirates (UAE) was designated as a high-risk country by the global financial crime watchdog Financial Action Task Force (FATF) and added to their “grey list” of countries subject to increased monitoring to counter financial crime. Despite the greylisting, many crypto companies such as Binance have set up shop in Dubai in recent months. Lured by the crypto-friendly regulation. This is dangerous for all other regulatory regimes, merchants, and consumers.