Crystal , a company specializing in blockchain analytics, compliance, and risk monitoring, has announced the opening of a new office at the Dubai World Trade Centre. This move demonstrates the firm's intention to support the more than 1,400 Virtual Asset Service Providers (VASPs) in the region.

Crystal, which collaborates with several Dubai-based virtual asset firms, plans to use this new office to enhance its operations and provide comprehensive services to the expanding crypto industry in Dubai and the Middle East. Representatives of Crystal highlighted the strategic choice of the UAE, citing its progressive regulatory environment as a key factor. They emphasized the importance of proximity to customers for undertaking research and development, and introducing new products tailored to the region.

Crystal collaborates with government regulators, crypto institutions, and law enforcement across Europe, Asia-Pacific, the Middle East, and the United States. The company aims to work closely with licensed entities in the UAE, adhering to VARA regulations, to bolster their market compliance infrastructure and promote a secure digital asset marketplace. As the digital asset sector develops, regulation remains crucial, particularly in areas such as anti-money laundering (AML), counter-terrorist financing, and financial market stability.

Recent global trends towards enhancing regulatory frameworks reflect a growing interest in harmonized oversight approaches. This initiative represents a step towards aligning international standards with regional regulatory capabilities, potentially influencing future regulatory developments in the virtual assets sector. About Crystal Founded in 2018, Crystal is a blockchain intelligence firm that provides financial institutions, law enforcement, and regulators with real-time blockchain analysis, investigative, and compliance solutions.

Crystal assists financial institutions in adhering to global anti-money laundering regulations and supports investigators and government agencies with advanced technology and real-time intelligence to resolve crypto-related investigations. Crystal’s offerings are available as a free blockchain explorer, SaaS, or API. .