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Middle East

Oman

Registered, not licensed: Oman has made crypto firms register for AML since 2023, but its full licensing regime is still pending.

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Licences

What it takes to operate in Oman: one licence, who issues each, what it covers and who holds one.

Virtual asset service provider registration (AML/CFT)

FSA · Decision No. 35/2023; AML/CFT Law (Royal Decree No. 30/2016)

Any virtual asset service offered in or from Oman by a company incorporated there, a person with a place of business there, or anyone serving Omani customers. It is a registration, not a full operating licence.

What it takes
  • Registration with the regulator before starting any virtual asset activity
  • Existing providers had three months from the decision's effective date to register
  • Internal AML/CFT policies and customer risk assessment
  • Suspicious transaction reports and information to the National Centre for Financial Information
  • Precautionary checks and data requirements for virtual asset transfers
1holders, Dec 2024

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