Crypto Scammers Will be Punished With Fines & Jail Time in UAE

To discourage crypto scammers from targeting unsuspecting investors, the UAE Public Prosecution has recently announced its decision to punish them with fines of up to $136,124 USD (AED 500,000) and jail terms.

The UAE Public Prosecution is on a mission to increase awareness about the latest laws in the country, and it has issued several similar warnings in the past. UAE aspires to become a global crypto hub, and it needs a strong legislature to attract innovators and investors alike.

[Via]

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