Cryptocurrency scammers will face five years jail time in UAE

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Cryptocurrency scammers will face five years jail time in UAE
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The new measures are set to start in January.

The new measures are a part of sweeping legal reforms introduced by the country’s president, Sheikh Khalifa.

The new measures are set to take effect on January 2 next year as part of the country’s new online security laws. The UAE says the laws are intended to protect internet users from electronic fraud and to preserve personal privacy and rights,Presently, there is no rule against crypto assets in the UAE, but it is regulated by the country’s Securities and Commodities Authority .

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