UAE central bank: exchange BTSE is not licensed and is outside the jurisdiction and supervision of the central bank

According to The Block, the Dubai crypto exchange BTSE stated in a blog post last December that the exchange "has obtained permission from the Dubai Government's Ministry of Economic Development" and that it "does business in accordance with the rules of the UAE Central Bank. However, a spokesman for the UAE central bank said that BTSE "has not obtained the permission of the central bank" and "is outside the jurisdiction and supervision of the central bank". According to previous news from the Odaily Planet Daily, BTSE announced that it has transferred its operations to the British Virgin Islands (BVI). The company said the decision was made because it has not yet seen concrete progress by Dubai regulators in implementing actual legislation.