‘Crypto’ coins and cryptocurrency exchanges can become legitimate in UAE
A group of UAE citizens has launched a legal dispute over a cryptocurrency exchange and a digital wallet they say violated their privacy rights.
Dubai’s state-owned media reported on Wednesday that the UAE authorities have launched an investigation into BitMEX, a bitcoin exchange, and a virtual wallet service called BitTello, which it claims infringed on the privacy rights of UAE nationals.
In a statement, the UAE Ministry of Interior (MOI) said the investigation would take into account the UAE’s privacy laws, and said that BitMex, BitTeller, and BitPay would face penalties.
The MOI did not provide any further details about the actions that will be taken against the exchange or wallet services.
The MOI also did not give further details on the reasons behind the launch of the investigation.
According to the statement, BitM EX was launched in May 2018, but only opened for trading in January 2018.
The operator then changed its name to BitM Exchange, which was only operational for a few days before closing down on December 18.
The operators of BitMEx, Bitteller and BitTrello all have Dubai addresses and were launched in 2017, but all three failed to attract customers.
According to a report by Al Jazeera, all three were based in Dubai.
Al Jazeera’s Omar Al-Masri, reporting from Dubai, said that the Ministry of Health and Social Welfare (MoHSW) is also involved in the investigation, and that it will take action against BitM and BitM Ex operators in accordance with UAE law.
The UAE is known for its strict and strict privacy laws that prohibit the gathering, recording or sharing of private information and the sharing of any personal data.
The government has recently increased penalties for those found to have violated these laws, including up to six months in prison.
The Ministry of Justice has also stepped in to oversee cases where people have been arrested on charges of breaking the privacy laws.
According in a report in April 2018 by Al Arabiya News, the Ministry said that it had launched an internal investigation into the UAE-based bitcoin exchange BitMMEX, as well as a digital wallets provider BitTella, which the MoHSW alleges breached privacy laws and breached UAE law enforcement.
The MoHSWs investigation also included the Ministry for Information Technology, Media, and Communications, according to the report.
It was not immediately clear if the UAE government would be able to force BitM or BitTellos to shut down their services.
Al-Masrian said that a government decision to investigate BitMX would likely be a first step in bringing the virtual currencies and their digital wallets to light.