Nils Silinevics
Partner · AML & Crypto Compliance · Former FIU Investigator
FixedFloat is not registered with VARA (Virtual Assets Regulatory Authority, Dubai) + ADGM FSRA (Abu Dhabi) + CBUAE (Central Bank) — but your funds are not lost. Swiss lawyers submit directly to FixedFloat's compliance team, bypassing standard support. 90%+ success rate.
FixedFloat is not VARA-licensed
UAE is a global crypto hub — VARA (Dubai, 2022) is the world's first independent crypto regulator; ADGM FSRA is more conservative; multiple exchanges licensed
This matters because it determines which regulatory body has authority over your case — and whether you have a direct complaint path or need cross-jurisdictional legal action.
What this means for you: FixedFloat is not registered with VARA (Virtual Assets Regulatory Authority, Dubai) + ADGM FSRA (Abu Dhabi) + CBUAE (Central Bank), so direct regulatory complaints are limited. However, FixedFloat still operates under its home jurisdiction's AML laws (no major license). We submit legal documents directly to FixedFloat's compliance team — not through standard support channels.
Your funds are not illegal. Using an unregistered exchange in United Arab Emirates does not make your crypto holdings illegal under UAE Federal AML Law No. 20 of 2018 + VARA Rulebook. You may face tax reporting obligations, but the funds themselves are yours.
under Federal Decree-Law No. 20/2018, you can complain to UAE FIU; VARA-specific complaints to VARA; ADGM complaints to FSRA
Under UAE Federal AML Law No. 20 of 2018 + VARA Rulebook (Dubai) + ADGM FSMR (Abu Dhabi), FixedFloat must conduct customer due diligence and can freeze accounts during AML investigations. However, they must also:
If FixedFloat doesn't meet these obligations, we escalate to VARA (Virtual Assets Regulatory Authority, Dubai) + ADGM FSRA (Abu Dhabi) + CBUAE (Central Bank) and file a formal legal submission. For a broader comparison of how United Arab Emirates's rules stack up against other jurisdictions, see our AML laws by country reference.
no personal income tax in UAE; no crypto-specific capital gains tax (federal level)
If your FixedFloat account is frozen, you may still need to declare your crypto holdings on your United Arab Emirates tax return — even if you can't access them. Under United Arab Emirates law, the tax obligation may apply regardless of whether the funds are accessible. We recommend consulting a Emirati tax advisor.
If the freeze causes you to miss a tax deadline, we can provide documentation for the VARA (Virtual Assets Regulatory Authority, Dubai) + ADGM FSRA (Abu Dhabi) + CBUAE (Central Bank) and tax authority explaining the situation.
A Emirati user initiated a swap on FixedFloat, but the transaction was held for AML review. FixedFloat demanded KYC documentation mid-swap. Under UAE Federal AML Law No. 20 of 2018 + VARA Rulebook (Dubai) + ADGM FSMR (Abu Dhabi), FixedFloat has the right to hold funds during compliance review. We submitted KYC documents and source-of-funds proof. Within 14 days, FixedFloat released the funds after our submission demonstrated compliance with UAE Federal AML Law No. 20 of 2018 + VARA Rulebook (Dubai) + ADGM FSMR (Abu Dhabi).
Details anonymized to protect client confidentiality. Swiss professional secrecy applies.
We analyze your FixedFloat account, transaction history, and United Arab Emirates regulatory context to identify the exact trigger. Was it a Chainalysis risk flag? A sanctions screening match? A source-of-funds demand? Each requires a different strategy.
We prepare documentation compliant with UAE Federal AML Law No. 20 of 2018 + VARA Rulebook — not just FixedFloat's standard templates. This includes source-of-funds proof, transaction tracing, and any required VARA-specific forms.
We submit through FixedFloat's compliance channels — not standard support. Our submission is in English and references VARA guidelines. We coordinate with VARA even though FixedFloat is not registered.
We verify everything works and advise on preventing recurrence on FixedFloat. If FixedFloat doesn't respond within no statutory maximum; VARA expects resolution within 30 business days, we escalate to VARA and pursue cross-jurisdictional action in Dubai (formerly: no clear jurisdiction) if needed.
Tell us what happened. A senior crypto compliance lawyer — not a chatbot, not a junior — will read your case and respond within 6 hours. Swiss professional secrecy applies from your first message.