According to CoinDesk, the Dubai Financial Services Authority (DFSA) announced a ban on privacy tokens within the Dubai International Financial Centre (DIFC), citing their anonymity features as difficult to meet anti-money laundering and sanctions compliance requirements. The ban also covers privacy tools such as mixers. The DFSA has also tightened the definition of stablecoins, only recognizing stablecoins backed by fiat currency and high-quality liquid assets, and has shifted the responsibility for token eligibility assessments to licensed institutions.
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According to CoinDesk, the Dubai Financial Services Authority (DFSA) announced a ban on privacy tokens within the Dubai International Financial Centre (DIFC), citing their anonymity features as difficult to meet anti-money laundering and sanctions compliance requirements. The ban also covers privacy tools such as mixers. The DFSA has also tightened the definition of stablecoins, only recognizing stablecoins backed by fiat currency and high-quality liquid assets, and has shifted the responsibility for token eligibility assessments to licensed institutions.