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In the lobby of a Dubai skyscraper, a doorman fields queries about an increasingly popular crypto shop, directing clients to office 501, down a grubby corridor on the fifth floor.
Inside, staff are busy operating Coinsfera, an over-the-counter exchange that’s emerging as a favorite for Russians, Iranians and others who struggle to transfer money through banks due to Western sanctions or local restrictions, according to bankers, lawyers and crypto executives familiar with the matter.
The OTC structure allows customers to buy crypto assets back home with local currency and sell them for hard cash in Dubai. At Coinsfera, the process takes minutes and involves checking an identity document and answering few questions, according to customers and staff.
Clients include ordinary folks dabbling in crypto or navigating capital controls and restrictions that don’t target them but can complicate banking....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...