Crypto.com gets license to receive taxes, other govt payments in UAE
Crypto.com has become the first Virtual Asset Service Provider (VASP) to get the UAE license to receive taxes and other government payments.
Crypto.com has become the first Virtual Asset Service Provider (VASP) to get the UAE license to receive taxes and other government payments.
In a report Monday May 11, 2026, Crypto.com said that its UAE entity, Foris DAX Middle East FZE, has been granted a Stored Value Facilities (SVF) license by the Central Bank of the UAE (CBUAE), making it the first Virtual Asset Service Provider (VASP) in the Emirates to receive this license.
After obtaining the SVF license, Crypto.com can now activate its partnership with the Dubai Department of Finance, which will provide residents in the UAE with the ability to pay Government fees with virtual assets.
“All financial settlements will be conducted in UAE dirhams or CBUAE-approved dirham backed stablecoins exclusively through the SVF framework, allowing secure payments and supporting the advancement of the Dubai Cashless Strategy”, the Singapore based cryptocurrency platform operational since 2016 said.
Crypto.com also confirned the latest development in a social media post.
"This regulatory milestone allows us to exclusively provide UAE residents with the ability to pay Government fees using digital assets", the cryptocurrency platform wrote on X.
Future payment integrations with Emirates Airlines and Dubai Duty Free may also be supported under the license, according to the business, though those services are still pending clearance from the UAE central bank.
Follow ummid.com WhatsApp Channel for all the latest updates.
Select Language to Translate in Urdu, Hindi, Marathi or Arabic
