UAE To Develop Legal Framework for DAOs
The framework will also enable DAOs to enter legally binding contracts and create guidelines for resolving internal and external disputes. The Ras Al Khaimah Digital Assets Oasis (RAK DAO), a free economic zone in the UAE focused on digital assets, is preparing to launch a legal framework specifically for decentralized autonomous organizations (DAOs). According to […]
UAE Stablecoin Issuer Gets Approval from Central Bank
AED Stablecoin leads the race to produce the UAE’s first regulated dirham-pegged token as Tether awaits. The Central Bank of the United Arab Emirates (CBUAE) has granted preliminary approval to AED Stablecoin under its Payment Token Service Regulation framework, according to a press release from the company. This in-principle license positions AED Stablecoin as a […]
UAE Central Bank Grants Approval to AED Stablecoin
The Central Bank of the United Arab Emirates (CBUAE) has granted in-principle approval to AED Stablecoin under its Payment Token Service Regulation framework. AED Stablecoin is now a leading contender in the competition to become the first issuer of a regulated dirham-pegged stablecoin in the UAE, following the preliminary license approval. The recent release of […]
Dubai Regulator Grants Bybit Provisional Crypto License
Bybit, the world’s second-largest crypto exchange by derivatives volume, has obtained a two-year provisional license in Dubai after establishing its headquarters in the city. An announcement shared with Cointelegraph indicates that the Virtual Asset Regulatory Authority (VARA) has granted a non-operational license to the centralized crypto exchange (CEX). According to Helen Liu, the chief operating […]
UAE Regulators to Allow Licensed VASPs to Service Entire Country
The securities regulator of the United Arab Emirates (UAE) has partnered with the crypto regulator of Dubai to streamline its licensing regime and thereby demonstrate “regulatory cohesion” throughout the nation. The Securities and Commodities Authority (SCA), the federal financial agency of the United Arab Emirates, and the Virtual Assets Regulatory Authority (VARA), the crypto administrator […]