Crypto.com Gets UAE License: Paying Taxes with Bitcoin Now 90% Less Embarrassing

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Crypto.com said its UAE entity, Foris DAX Middle East FZE, received a Stored Value Facilities license from the Central Bank of the UAE.

Behold! The first Virtual Asset Service Provider (VASP) in the Emirates to achieve the lofty goal of acquiring an SVF license has been revealed. This is not a typo. It’s not even a metaphor. It’s a bureaucratic triumph, which is impressive because bureaucracy is generally considered the opposite of triumph.

  • Crypto.com now holds the prestigious title of “First VASP with an SVF License in the UAE.” (Note: This is not a joke. It’s a regulatory achievement. Probably.)
  • Dubai residents will soon be able to pay government fees using virtual assets. (Spoiler: This might involve fewer coins and more ones and zeros.)
  • Settlements will occur in UAE dirhams or approved dirham-backed stablecoins. (Translation: You won’t be handing over a bag of sand. Yet.)

The company claims it’s the first VASP in the Emirates to earn this license. This is a bold statement, especially considering VASPs are like the “I heart my country” pins of the crypto world-everyone wants one, but very few can actually sew it on their digital lapels.

The approval marks a transition from “in-principle status” to a full-blown licensed setup. In October 2025, crypto.news reported that the company had received in-principle approval, pending “final technical and compliance checks.” These checks likely involved a team of experts who asked questions like, “Are you sure this isn’t a pyramid scheme?” and “Do you have a plan for when the internet explodes?”

Dubai Government Fee Payments Move Closer to Becoming Less Cashy

The license allows Crypto.com to activate its partnership with the Dubai Department of Finance. This means UAE residents can now pay government fees using virtual assets. (Yes, the same assets that were once called “Bitcoin” and now go by the more sophisticated name “digital tokens.”)

All settlements will occur in UAE dirhams or CBUAE-approved dirham-backed stablecoins. This ensures that government entities receive local-currency settlements, while users can start payments with supported digital assets. (Translation: You’ll still need to convert your crypto to fiat, but at least you can pretend you’re doing it for the government.)

Users wanting to access the service must be onboarded through Crypto.com’s VARA-licensed platform. This is a bit like needing a library card to enter a bookstore, but with more KYC forms.

Crypto.com framed the approval as a compliance step. Eric Anziani, President and COO of Crypto.com, said the license showed the company’s “strong commitment to compliance.” This statement reflects the company’s view and has not been independently tested. (Note: Compliance is to crypto what seatbelts are to rollercoasters-optional but advisable.)

Emirates and Dubai Duty Free Could Follow Suit

Crypto.com said the license may also allow it to start crypto payment integrations with Emirates Airlines and Dubai Duty Free after required CBUAE approvals. In July 2025, Emirates signed an MoU with Crypto.com to explore adding Crypto.com Pay to its payment systems. (This is the closest thing to a “crypto concierge” the Middle East has seen since the invention of the espresso machine.)

This update aligns with Dubai’s wider cashless plan. The Dubai Cashless Strategy aims for 90% cashless transactions across government and private sectors by 2026. (Note: 90% is a reasonable target. 100% would be asking for trouble, and possibly a revolution.)

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2026-05-11 10:00