United Arab Emirates: Cabinet Resolution No. 111 Regulating Virtual Assets and their Service Providers enters into force
Description
Cabinet Resolution No. 111 Regulating Virtual Assets and their Service Providers enters into force
On 14 January 2023, Cabinet Resolution No. 111 on the regulation of virtual assets and their service providers (VASPs) entered into force in the UAE. The Resolution applies to virtual asset activities and VASPs, including those operating in free zon…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), ML and AI development, DLT development
Implementation Level
national
Government Branch
executive
Government Body
central government