Dubai Outlaws Privacy Coins, Tightens Stablecoin Rules to Court Institutions
Dubai-based regulators have announced a ban on privacy coins and tougher rules for stablecoins, citing concerns about illicit finance and a need for greater transactional transparency. The move specifically targets assets like XMR, DASH and ZEC and signals expectations that local exchanges and service providers will delist or restrict access to those tokens and strengthen KYC/AML controls.
Officials framed the changes as part of a broader effort to attract institutional capital by creating a clearer, more compliant market environment. The policy shift will likely increase compliance costs for firms operating in the UAE and could pressure liquidity and prices for affected privacy tokens, while positioning Dubai as a more tightly regulated crypto hub that other jurisdictions may watch closely.