UAE Requires Licenses for Crypto Services, Not Bitcoin Holding

The United Arab Emirates (UAE) was rumored to have banned Bitcoin. However, this claim is misleading. The new Central Bank of the UAE Law requires crypto-related businesses to obtain licenses but does not prohibit individuals from holding or trading Bitcoin.

• Millom Ohtamaa announced on X that the UAE banned Bitcoin, citing legal changes effective September 16, 2025.
• The law targets unlicensed crypto services like self-custodial wallets and blockchain explorers, not personal holdings.
• Crypto issuers must have licenses to operate, but private ownership remains legal.
• Community feedback clarified the law applies to financial institutions facilitating transactions, not individual Bitcoin holders.

Meanwhile, Bitcoin's price has fallen below $100,000, trading at $95,868.46 with a 6.92% decline in 24 hours, contributing to $658 million in liquidations across the crypto market. Additionally, Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust ETF, experienced significant outflows, affecting the BTC price.