Lawyer says UAE’s property agents have flexibility to adapt to rules on crypto-backed deals

Name: Lawyer says UAE’s property agents have flexibility to adapt to rules on crypto-backed deals
Uploaded: 2022-08-13T15:30:02+04:00
Description: Agents should not have problems complying because new rule only tightens up existing ones

Agents should not have problems complying because new rule only tightens up existing ones

Last updated: August 13, 2022 | 15:30

Irish Eden Belleza, Senior Visual Editor ; Ahmed Ramzan, Senior Visual Journalist and John Benny, Staff Reporter

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On Monday, UAE announced that real estate agents will have to alert the special unit overseeing anti-money laundering activities of any property deal that gets paid in crypto assets. The law applies to individuals and legal entities, as well as transactions exceeding about $15,000.

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Lawyer says UAE’s property agents have flexibility to adapt to rules on crypto-backed deals

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