In Dubai, the issuance of and all activities related to anonymity-enhancing cryptocurrencies like Zcash and monero are prohibited under new laws published Tuesday.

The jurisdiction in the United Arab Emirates (UAE) published its long-awaited crypto regulations, which sets licensing and authorization requirements for virtual asset companies and issuers looking to operate in Dubai.

The new rules define anonymity-enhancing crypto as "a type of Virtual Asset which prevents the tracing of transactions or record of ownership through distributed public ledgers and for which the [Virtual Asset Service Provider] has no mitigating technologies or mechanisms to allow traceability or identification of ownership."

(By Sandali Handagama)

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