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Crypto (CASP / VASP) E-money (EMI)
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Dimension Pinned
🇸🇬 Singapore analogue partly open
Verified 2026-10-01
 🇦🇪 United Arab Emirates (Dubai - VARA) analogue partly open
Verified 2026-10-01
Licence type No EMI. Major Payment Institution (MPI) licence under the Payment Services Act, covering e-money issuance and account issuance. Standard PI for smaller volumes.
Verified 2026-08-15 Source: Current national regulator authorisation material: https://www.mas.gov.sg/regulation/payments/licensing-for-payment-service-providers
No EMI. Stored Value Facility (SVF) licence and Retail Payment Services under the Retail Payment Services and Card Schemes Regulation, federal.
Verified 2026-07-03 Source: CBUAE, https://rulebook.centralbank.ae/en/rulebook/retail-payment-services-and-card-schemes-regulation
Regulator Monetary Authority of Singapore (MAS).
Verified 2026-08-15 Source: Current national regulator authorisation material: https://www.mas.gov.sg/regulation/payments/licensing-for-payment-service-providers
Central Bank of the UAE (CBUAE). Separate from Dubai VARA, which regulates crypto.
Verified 2026-07-03 Source: CBUAE
Capital requirement Singapore capital requirement is included in the £349 pass. United Arab Emirates (Dubai - VARA) capital requirement is included in the £349 pass.
Timeline to authorisation Singapore timeline to authorisation is included in the £349 pass. United Arab Emirates (Dubai - VARA) timeline to authorisation is included in the £349 pass.
Local substance Singapore local substance is included in the £349 pass. United Arab Emirates (Dubai - VARA) local substance is included in the £349 pass.
Application cost Singapore application cost is included in the £349 pass. United Arab Emirates (Dubai - VARA) application cost is included in the £349 pass.
Ongoing cost Singapore ongoing cost is included in the £349 pass. United Arab Emirates (Dubai - VARA) ongoing cost is included in the £349 pass.
Passporting Singapore passporting is included in the £349 pass. United Arab Emirates (Dubai - VARA) passporting is included in the £349 pass.
EMIs authorised Singapore emis authorised is included in the £349 pass. United Arab Emirates (Dubai - VARA) emis authorised is included in the £349 pass.
Key restrictions Singapore key restrictions is included in the £349 pass. United Arab Emirates (Dubai - VARA) key restrictions is included in the £349 pass.
Safeguarding Singapore safeguarding is included in the £349 pass. United Arab Emirates (Dubai - VARA) safeguarding is included in the £349 pass.
Recent changes Continuing MAS refinements to the PSA.
Verified 2026-07-02 Source: MAS
The ordinary Article 184 reconciliation period under Federal Decree-Law No. 6 of 2025 ended on 16 September 2026, one year after the Decree-Law took effect. The CBUAE Board may extend the period at its discretion. The CBUAE states that earlier decisions, standards, guidelines and circulars continue until replaced.
Verified 2026-10-01 Source: CBUAE, Financial Legislation FAQ on Federal Decree-Law No. 6 of 2025: https://centralbank.ae/en/legislation/
Difficulty rating Singapore difficulty rating is included in the £349 pass. United Arab Emirates (Dubai - VARA) difficulty rating is included in the £349 pass.

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Capital, timeline, costs, substance, passporting, restrictions and difficulty for your pinned jurisdiction and every peer, with the deltas that show where each one wins or loses. One-off Founder Pass (£349) or Pro with change alerts.

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Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.

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