United Arab Emirates: License requirements in Virtual Assets Regulation
Progress
Current status
under deliberation
14 Jan 2023 in force
Scope
Implementers
United Arab Emirates
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
national
Timeline of events
Implemented UAE Cabinet Resolution Concerning the Regulation of Virtual Assets and their Service Providers (VASP)
On 14 January 2023, the United Arab Emirates (UAE) Cabinet Resolution No. (111) of 2022 Concerning the Regulation of Virtual Assets and their Service Providers came into effect. The regulation requires virtual asset providers to obtain a license fro…
SourceEvent type
order
Action type
implementation
Government branch
executive
Government body
central government