These codes are used to identify operations about licence holder for crypto:
Categories: UAE
> 7229-99 Distributed Ledger Technology Services – enabling development and application database management solutions and also provide any ancillary services with the use of distributed ledger technologies, including Blockchain. But, it should be noted that license holders are not allowed to hold an exchange or trade with cryptos, fiat currencies, and commodities, and also render any financial services, payment processing, and even brokerage.
> 6599-92 Proprietary Trading in Crypto-commodities – a license holder can carry out sale and purchase operations with crypto commodities (proprietary trading) created based on the distributed ledger technology. This activity also doesn’t cover any brokerage or exchange functions, banking, financial, payment processing, and similar regulated services.
This license is obtained for a local company and for this purpose the next documents are requir
1. ID;
2.Confirmation about the registered address of residency;
3.Document concerning the verification of the future company’s name;
4.Detailed business plan.