United Arab Emirates: Implemented Digital Assets Law
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Description
Implemented Digital Assets Law
On 8 March 2024, the Digital Assets Law was implemented. The law introduces regulations and operating conditions for digital payment providers, including cryptocurrencies. It outlines control and title rules, obligations related to impairment, and the recovery of control of digital assets. The law aims to provide a legal framework for the digital payment industry, ensuring transparency and fairness in trading on specified digital platforms.
Original sourceScope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government