Share this article
UAE Central Bank Governor: Bitcoin 'Easily Used' for Money Laundering
UAE Central Bank Governor Mubarak Rashed Al Mansouri issued critical remarks about bitcoin during an event this week.
By Nikhilesh De
Updated Sep 13, 2021, 7:04 a.m. Published Oct 24, 2017, 6:10 p.m.
The head of the central bank of the United Arab Emirates (UAE) is striking a critical tone toward bitcoin.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
reports that governor Mubarak Rashed Al Mansouri recently criticized the lack of supervision around bitcoin, claiming that it facilitates money laundering and terrorism financing. He also reportedly said that, to date, the central bank has not moved to offer licenses to any cryptocurrency businesses operating in the UAE.
"Some nations have announced that they are not using bitcoin, and consequently its value sharply plummeted. In addition, it can be easily used in money laundering and in funding terror activities," he was quoted as saying.
Critical words aside, it's not clear whether Al Mansouri's words will turn into action.
, the central bank chief said that there were no immediate plans to impose new restrictions on cryptocurrencies. However, Al Mansouri indicated that this was a subject that's under study – echoing moves by a number of central banks worldwide – and that new regulations could be forthcoming.
"This area is currently under review by the Central Bank and new regulations will be issued as appropriate," Al Mansouri said in February.
Last month, regional news sources reported that the institution's work was nearing completion and that new rules remain a possibility.
Dubai skyline image via Shutterstock
Meer voor jou
Wat u moet weten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
Wat u moet weten:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
Top Stories
