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BTSE details shift to BVI as UAE central bank tells The Block the crypto exchange startup doesn't fall under its 'jurisdiction and regulations'
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Quick Take
- Crypto exchange BTSE said in a December blog post that it is “licensed by the Department of Economic Development, Government of Dubai” and operates “under the regulations of the Central Bank of the United Arab Emirates”
- A spokesperson for the central bank told The Block that BTSE is “not licensed” by the central bank and “does not fall under CBUAE jurisdiction and regulations”
- BTSE said this week that it has been shifting its operations to the British Virgin Islands since last year, a move is indicative of a wider factor facing many crypto startups today: an ever-shifting regulatory landscape.
Crypto exchange BTSE said this week that it has “been gradually transitioning to the British Virgin Islands” since last fall amid uncertainty around the regulatory environment in Dubai.
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