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Dubai Police Join Forces with Crypto Platform BitOasis to Fight Fraud

Dubai Police Join Forces with Crypto Platform BitOasis to Fight Fraud

The Dubai Police Force and BitOasis crypto exchange are now partners in spreading awareness for possible frauds. The two will establish the necessary rules regarding crypto investments, as confirmed by the CEO of BitOasis.

One of the leading crypto exchanges from the United Arab Emirates, BitOasis, is now a trusted ally to the Dubai Police Force, as they start the journey to increase awareness for safe crypto investment and trades.

The most significant purpose of this partnership is to create laws and regulations that will result in a more secure investment ground for all the parties involved. The man behind BitOasis, Ola Doudin, elaborated more about this process. According to him, the BitOasis team has already been working towards creating a healthy and safe crypto ecosystem. So far, they have collaborated with policymakers and regulators, and now the next step would be working closely with the Dubai Police force.

This respected move is in concordance with last month’s decision from UAE regulators, the one to approve trading within Dubai’s DWTCA free zone. At the same time, the crypto exchange informed joining its services with a goAML, a platform for observing distrustful transactions, developed specifically for use by the UAE Financial Intelligence Unit.

And the partnership does not end here. It is important to add that an organization run by the state, known as the National Committee for Combating Money Laundering and the Financing of Terrorism and Illegal Organisations, will also participate here.

The CEO of BitOasis was not the only one to give his two pence on the issue, the police expressed their viewpoint as well. As the complex world of cryptocurrency is not a walk in the part, Tarek Mohammed from the Dubai Police, reassures the public that his department is attending training on everything they need to know about crypto and blockchain. He added that the United Arab Emirates is taking measures to make the transactions safe for everyone, including the country, investors, and all stakeholders in the crypto ecosystem. Moreover, he advises local traders to be extra cautious when dealing with anonymous sources.

Many people in the industry believe that this positive approach to cryptocurrencies will also benefit the country itself. In the same light, Stephen Stonberd, the CEO of another crypto exchange, praised the Emirates for embracing crypto as other significant local projects will soon follow. 

Also Read: Bank of America Expresses Support for the DeFi and NFT Sectors

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