KARM Legal to step up crypto compliance services in UAE with Swiss firm

By Amirtha P S, Desk Reporter
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Cryptocurrency
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UAE-based legal consultancy firm, KARM Legal Consultant has signed a long-term collaboration agreement with Switzerland-based ScaleCompliance, which offers the most advanced crypto compliance services for clients in UAE, GCC, and the Middle East and North Africa (MENA) region.

KARM Legal has partnered with ScaleCompliance as part of its efforts to expand and diversify its collaborations in the crypto, blockchain, tokenization, fintech, NFT, e-gaming, crowdfunding and emerging tech, regulatory compliance fields. KARM Legal operates as a digitally native legal consultancy rather than a traditional law firm.

Kokila Alagh
Kokila Alagh
Founder & CEO
KARM Legal

“We believe in cultivating a divergent company culture and this collaboration presents a united business front that will complement our businesses and enhance our successes. As we continue to grow and expand, partnerships such as these with reputable organizations will continue to be nurtured and supported by us.”

Opened recently in Dubai Multi Commodities Centre (DMCC), ScaleCompliance is a collective experience of over 50 years in the areas of finance, fintech, law, and technology. The company provides a regulatory compliance framework and processes.

ScaleCompliance has a strong experience in Switzerland and is globally offering a KYC/AML platform that delivers fast and accurate verifications. ScaleCompliance also offers crypto wallet and transaction screening services, as well as any type of support with onboarding clients.

Commenting on the partnership, Dr. iur. Karin Lorez, Founding Partner at ScaleCompliance, added “ScaleCompliance is your partner for tailor-made crypto compliance solutions. As such we are excited to roll out our crypto compliance services from Switzerland to the UAE. We are looking forward to collaborating with Karm Legal Consultants and supporting Dubai’s crypto vision to become a global hotspot and leader for innovative blockchain applications.”

“I am personally excited to witness this partnership between KARM and ScaleCompliance. Joining efforts and experiences is adding value to the ecosystem that has been growing at a rapid pace in DMCC. With more valuable players joining and such partnerships, this will help strengthen and grow the Blockchain and Crypto ecosystem in the UAE and the region.” said Mr. James Bernard, Regional Representative Europe at DMCC.

The UAE has become a leading blockchain and crypto assets hub. Recent research by Triple-A states that the UAE has 152,077 crypto owners which are 1.54 percent of the population. In addition, UAE has been developing its regulations in the blockchain, fintech and crypto assets sectors over the past years.

Related: Intel ventures into Crypto space with new blockchain chip


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