Arab News, Sunday, Oct 3, 2021 | Safar 26, 1443
Dubai crypto platform teams up with police to combat crypto fraud
Emirates:
Dubai Police has teamed up
with a cryptocurrency trading platform to educate investors and traders about
crypto fraud.
“We have been working with key policymakers to
help them build regulation that will make crypto safe for investors,” Ola
Doudin, chief executive officer of BitOasis, said
She said there is a “string of scams happening on
peer-to-peer platforms,” and the partnership with the police could help
investors and traders steer clear of them.
It comes as the UAE takes an active role in
promoting blockchain technology, with the announcement of several initiatives
that make it easier to for crypto players to transact.
“(The UAE) is taking a hands-on approach to
ensuring the financial security of the country, investors, and all stakeholders
operating within the crypto space,” Tarek Mohammed, head of virtual asset crime
section at Dubai Police.
The police department is training its force
“extensively” to understand crypto and blockchain technology, he said.
The partnership aims to create “effective
investigation methodologies to combat the risks associated with crypto trading.”