UAE’s New Finfluencer License Will Make Your Money Laugh & Cry! 😂💸

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UAE Registers Finfluencers: Because Who Needs Qualifications Anyway? 🎩🤡

In a move that’s sure to make your financial advisor blush, the United Arab Emirates has decided to regulate those charming social media folks giving investment tips like they’re running a carnival game. Yes, folks, the Securities regulator has rolled out the ‘Finfluencer’ license! Think of it as the government’s way of saying, “Hey, if you’re gonna tell people to buy Bitcoin at 3 AM, make sure you’re licensed first!”

Regulators Get a Makeover: Digital Economy Gets a New Bossy Boss

The Securities and Commodities Authority (SCA)—the folks in charge of making sure no one burns down the financial house—have launched the Middle East’s first-ever “Finfluencer” license. Basically, it’s like a VIP pass for internet gurus who want to dish out advice on investment without ending up in the funny papers. Now they have a regulatory framework—because what could go wrong, right?—to supervise the digital money magicians.

H.E. Waleed Saeed Al Awadhi, the big cheese of the SCA, announced with all the seriousness of a game show host that “Introducing the Finfluencer license is not merely a regulatory measure; it is a strategic move to redefine the role of regulators in the digital economy.” Basically, “We’re turning the digital wild west into a well-organized circus.”

He added that they aim higher than a kite—setting global standards of integrity, trustworthiness, and maybe even making sure no one actually loses their shirt. “We see ourselves as engine drivers of transformative change,” he boomed, probably while wearing a top hat.

A statement from the SCA explained that the new license is open to anyone offering financial advice about regulated products or entities in the UAE. Whether they’re shouting on TikTok or whispering through a newsletter, they need to register. Because nothing says “reliable” like a government stamp of approval… or at least a stamp saying “I checked and I’m licensed!”

If you want to join the party, you’ll need to register with the SCA and follow the rules—think of it as the DMV but for people who give investment advice. The goal? Keep investors safe and trust in the markets alive—because apparently, investors are a little soft when it comes to shady advice.

Now, the SCA’s move comes at a busy time; social media influencers are turning into the new financial advisors—some with followers larger than the population of small countries—and often they’re unqualified, unlicensed, and full of opinions that could cause a financial meltdown. Oops! Did we say meltdown? We meant “a little hiccup,” right? 😅

For example, a study by Coinwire found that memecoin-promoting influencers with over 200,000 followers had nearly 40% of their followers lose money—talk about a give-and-take! After three months, 89% of followers watched with horror as their investments turned into digital dust. So, with all these “experts,” it was only a matter of time before someone said, “Hey, maybe we should regulate these folks.”

The new rules mean that any influencer talking about buying, selling, or holding any virtual asset in the UAE had better get licensed, or they’ll be in the digital doghouse. This applies whether they’re making TikTok videos, YouTube tutorials, or just meme-ing about money.

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2025-06-03 02:01