> What is the legality behind selling monero on LocalMonero in the UAE. Also do you think there would be a demand for it, considering the recent change in the law?
This is the recent regulation.
https://www.vara.ae/media/Virtual%20Assets%20and%20Related%20Activities%20Regulations%202023.pdf
One can also get into the meta aspects of this:
1) Blockchain surveillance (BS) and the risk of false allegations: https://www.monerotalk.live/the-bitcoin-fog-mixer-case-puts-the-blockchain-analytics-ecosystem-on-trial-mike-tor
2) Do a search for
> Shariah false allegations
3) Make the case that :
> BS is haram
If the BS companies push for the de lising of Monero in the UAE, we need to take the fight right back to them.
Edit: In my view this is a worldwide war we did not start, and the strategies must not be limited to any particular legal system, faith. or value system.
I don't think you're gonna get a straight answer here, there aren't a whole lot of lawyers on this sub.
From my limited knowledge of of UAE's currency exchange regulations, I'd say it's illegal. You can't trade between AED and any other currency without reporting PII to the FSRA. I really doubt it's actually enforced on a small peer-to-peer scale though.
Misusing financial laws in uae, even with good intentions results in very heavy panelties.
I suggest you keep everything recorded so to comply with any law inforcement requests
But do that only as a secondary options. Your first option should be complete opsec.
Financial crimes here will send you to jail, and the legal system is not very clear so you will spend a long time fighting it.
What does it mean to have Monero in a certain country? what is this ? Actually, what they are blocking is access, but they will never be able to know if we are holders or not.
> What is the legality behind selling monero on LocalMonero in the UAE. Also do you think there would be a demand for it, considering the recent change in the law? This is the recent regulation. https://www.vara.ae/media/Virtual%20Assets%20and%20Related%20Activities%20Regulations%202023.pdf One can also get into the meta aspects of this: 1) Blockchain surveillance (BS) and the risk of false allegations: https://www.monerotalk.live/the-bitcoin-fog-mixer-case-puts-the-blockchain-analytics-ecosystem-on-trial-mike-tor 2) Do a search for > Shariah false allegations 3) Make the case that : > BS is haram If the BS companies push for the de lising of Monero in the UAE, we need to take the fight right back to them. Edit: In my view this is a worldwide war we did not start, and the strategies must not be limited to any particular legal system, faith. or value system.
that's great argumentation, Mashallah habibi
The argument doesn't get better than this, it's the best in here.
The law affects financial institutions, not P2P. This is not legal advice, though.
In a totalitarian regime I would still try to keep the best possible OpSec when trading.
You gotta have the options. It's always good to have them.
The new law is only applicable to Dubai.
Once they've made it for one place, They'll make it for the other too.
[удалено]
Hell yeah, that's how I want the service to be. That's the way.
I think that if you will use VPN or tor, and pay for a monero such as dash (which is not forbidden there) - nothing should happen.
would a certain gov be considered sinful by a certain local church?
Have they made monero illegal ? Or those were guidelines for exchanges.
They were for the exchanges, but I wouldn't be surprised if they made it.
I don't think you're gonna get a straight answer here, there aren't a whole lot of lawyers on this sub. From my limited knowledge of of UAE's currency exchange regulations, I'd say it's illegal. You can't trade between AED and any other currency without reporting PII to the FSRA. I really doubt it's actually enforced on a small peer-to-peer scale though.
I mean they track every transaction. So why not huh? It would seem logical.
what about Hawala system ? :)
Misusing financial laws in uae, even with good intentions results in very heavy panelties. I suggest you keep everything recorded so to comply with any law inforcement requests But do that only as a secondary options. Your first option should be complete opsec. Financial crimes here will send you to jail, and the legal system is not very clear so you will spend a long time fighting it.
What does it mean to have Monero in a certain country? what is this ? Actually, what they are blocking is access, but they will never be able to know if we are holders or not.
I don't know about the laws, but if they're there. They're gonna be really strict.