Lawyer explains new federal virtual asset law in the United Arab Emirates By Cointelegraph

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Lawyer explains new federal virtual asset law in the United Arab Emirates

Cryptocurrency Jan 14, 2023 10:00AM ET

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Lawyer explains new federal virtual asset law in the United Arab Emirates

The United Arab Emirates (UAE) has passed a new law that governs virtual assets, setting up the country's initial regulatory regime for the cryptocurrency space at the federal level.

Before the federal-level regulation, the UAE already introduced several supervisory initiatives for digital assets in economic free zones like the Abu Dhabi Global Market (ADGM). Last year, Dubai also established its own crypto regulator called the Virtual Asset Regulatory Authority (VARA).

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Regulated activities under the new law. Source: Irina Heaver

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