A good news for the crypto loving residents of UAE as they are now offering the opportunity to convert their local currency to Bitcoin or other crypto through crypto exchange M2. That's why crypto exchange M2 has announced that from now on, citizens of the country will be able to buy and sell Bitcoin and Ether directly using their bank accounts. Hence the announcement by the exchange authority as well as the digital asset custodian said that the new integration will directly enable UAE residents to convert their dirhams into bitcoins.
)
[source](https://pixabay.com/illustrations/diagram-profit-success-curve-3976152/)
To avail this facility, the nationals of the country must be included in M2's spot market and users can enjoy such facilities through trading pairs listed in the exchange. Users of this exchange can trade BTC and ETH for dirhams and vice versa trade dirhams for BTC and ETH as well as allow users to deposit and withdraw dirhams. However, such an opportunity is a great Friday for citizens of the country who are involved in crypto as M2 authorities strongly believe that the new integration enables users to quickly adapt to market changes. And as a result users will be able to easily convert their local currency to crypto as well as convert from digital currency to their local currency.
The accessibility of M2 is one of the milestones in such crypto activities. Because the new integration gives the exchange an opportunity to expand its offerings in a rapidly evolving landscape. Such announcements will also help investors who trade daily. Especially those who aren't quite attuned to the nuances of the trading environment. However, this is one of the important steps and one of the good news for the citizens of the country. Because through this, the residents of the country can easily convert crypto to their local currency or vice versa from local currency to crypto. However, the country is trying to help its citizens in various ways.
But one thing to keep in mind is that the UAE currently has one of the strictest policies in the world for consumer protection in the country compared to other countries. Even the country's executive highlighted that the move would also be controlled by the UAE government. The UAE is known as a crypto-friendly country. Because they have tried to better protect their country's citizens in crypto for years. Even last year the country instituted a new federal law to provide consumer protection to its citizens.
One of the reasons for establishing such laws was to protect consumers and prevent entities like FTX from attempting to defraud the country. It even announced stricter policies for those who violate consumer protection laws, and as fines the government will impose fines of up to 10 million AED ($2.7 million) on violators. However, the authorities of the country are adopting all kinds of strict policies to provide such benefits to the citizens of the country. And also the news that has come now is really one of the benefits for the citizens of the country where the citizens of the country will be encouraged to get involved in crypto and also enjoy the benefit of converting crypto to their own local currency.
