UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment

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The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in the transaction are derived from a virtual asset” must also be reported. Identification Documents of Parties to the Transaction Must Be Recorded The United Arab Emirates (UAE) government has said it is i ...

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