Yogesh Sethi’s Post

📢 CBUAE Approves AED Stablecoin The Central Bank of the United Arab Emirates (CBUAE) has granted preliminary approval for the issuance of a stablecoin pegged to the Emirati Dirham (AED). This significant milestone marks a pivotal moment in the UAE's journey towards embracing cryptocurrency and blockchain technology. A #stablecoin, unlike volatile cryptocurrencies like #Bitcoin or #Ethereum, maintains a constant value by being pegged to a stable asset. In this case, the AED stablecoin aims to provide a secure and stable digital currency for transactions, benefiting both individuals and businesses. The CBUAE's decision aligns with the #UAE's broader strategy to become a global fintech hub. By embracing #blockchain and #cryptocurrency, the UAE seeks to attract foreign investment, foster innovation, and modernize its financial sector. The introduction of an AED stablecoin could transform the UAE's financial landscape. It could lead to increased efficiency, reduced transaction costs, and greater accessibility to financial services. However, the CBUAE will need to carefully regulate the stablecoin to ensure its security, transparency, and stability. This development is a testament to the UAE's forward-thinking approach to technology and its commitment to staying at the forefront of the global financial landscape. #cryptoregulation #mica #micalawyer #cryptoassets #defi #defilaw #cryptocompliance #sadrisali #sbcr #web3 #web3law #fintech

🚨 Dubai Tightens Rules on Crypto Marketing to Protect Investors 🚨 Dubai’s Virtual Asset Regulatory Authority (VARA) has introduced stricter regulations for companies marketing crypto investments in the region. These new rules are aimed at increasing transparency and protecting investors from potential risks in the volatile world of digital assets. 📢 Key Updates: Mandatory Disclaimer: All marketing materials must clearly state that "virtual assets may lose their value in full or in part and are subject to extreme volatility." Incentive Compliance: Companies offering incentives related to digital assets must ensure their promotions are compliant and not misleading to investors. Broader UAE Reach: VARA-licensed providers can now expand their services across the UAE, in collaboration with the Securities and Commodities Authority (SCA). According to VARA CEO Matthew White, these measures will help providers deliver services responsibly, fostering trust and transparency in Dubai’s growing crypto market. 🌐 #DubaiCrypto #VARA #CryptoMarketing #BlockchainRegulation #CryptoInvestments #DigitalAssets #UAE #Fintech #InvestorProtection #CryptoPolicy #CryptoExchanges #InvestorProtection #Compliance #Blockchain #CryptoNews #CryptoLending #Cryptotax #Cryptotaxes #Cryptoaccounting #Cryptocpa #crypto #btc #eth #bitcoin #cryptoaccountant

UAE: A Rising Crypto Powerhouse The United Arab Emirates (UAE) now holds $40 billion in Bitcoin, driven by government initiatives, progressive regulations, and an open-door policy for blockchain businesses. Smart Regulation Dubai leads the charge with the Virtual Assets Regulatory Authority (VARA) and the DMCC Crypto Center, attracting blockchain companies worldwide. Key regulations, like the Payment Token Services Regulation, ensure stability and security while fostering innovation. Explosive Growth From July 2023 to June 2024, the UAE received $34 billion in cryptocurrencies—a 42% increase. Bitcoin accounts for 19% of the market, while stablecoins dominate with 51%. By 2025, the number of crypto users in the UAE is projected to reach 3.78 million. A Global Testing Ground The UAE's regulatory framework has positioned it as a global blockchain testing hub, with initiatives like Tether’s planned dirham-backed stablecoin. With growing institutional investments and a surge in decentralized finance (DeFi) activity, the UAE is solidifying its status as a global crypto leader. #Crypto #Bitcoin #Blockchain #UAE #Dubai #CryptoRegulation #DeFi #Stablecoins #CryptocurrencyGrowth #CryptoInnovation #Tether #CryptoHub #CryptoInvestment #DigitalAssets #CryptoAdoption

UAE's first AED (Dirham) backed Stablecoin: AED Stablecoin LLC has received in-principle approval from the Central Bank of The UAE to launch AE Coin, the first AED backed #stablecoin under the Payment Token Services Regulation. 🚀 This aligns with the UAE’s Digital Government Strategy 2025 and will be an interesting change in the financial services in the region. This has come as a bit of a surprise to the #blockchain industry, as there was an announcement a few weeks earlier on how #Tether was working on a dirham pegged stablecoin, which many assumed would be the first in the country. With regulatory oversight from the #CBUAE, AE Coin via #blockchain, has added advantages of trust, security and transparency, which will thus accelerate the way for the future of decentralized finance (#DeFi) in the UAE. Given the fact that the #UAE recently also exempted #crypto from taxes (VAT), lot of strategic moves taking place to make the country a crypto assets hub and leader! (Please note Image is not an accurate representation of the AED stablecoin and is #AI generated.) #cryptocurrency #cryptonews #techtrends2024 #futureoffinance #fintech #fintechinnovation #technology #cryptoassets #digitalassets #dubai #abudhabi #gcc #stablecoins #innovation

𝐒𝐚𝐥𝐚𝐫𝐢𝐞𝐬 𝐢𝐧 𝐔𝐀𝐄 💵💴💶💷 🇦🇪 𝐱 𝐂𝐫𝐲𝐩𝐭𝐨!📀 👨🏻⚖️ Dubai Courts have made a landmark ruling 📝 that salaries💵 paid in cryptocurrency are legally valid ✅ marking a major shift in the UAE's legal stance on digital currencies. This ruling is considered a progressive step, recognizing the evolving nature of financial transactions, particularly within the Web3 economy. Legal experts see this as a move towards broader acceptance of cryptocurrency in employment and other sectors within the UAE, which is home to over 3️⃣0️⃣0️⃣0️⃣ cryptocurrency companies. The decision could pave the way for further integration of digital currencies into the UAE's financial and legal systems, potentially influencing labor laws and contractual agreements in other areas. Share your views with us 💬 & follow us ⏩ for more industry updates. 🖱 www.cryptominers.ae 📩 info@cryptominers.ae 💡https://lnkd.in/dtAZxRK7 ⚙https://lnkd.in/dRS9j4Rk 💢https://lnkd.in/dB7rECmT 📸https://lnkd.in/dv--mT6g ✖️x.com/cryptominersgcc ➿https://lnkd.in/d9VrDptT #uae #courts #salaries #cryptocurrencies #bitcoin #hodl #cryptominers #cryptouae #news

📢 UAE Approves AED Stablecoin for a Regulated Future! 💼🇦🇪 In a groundbreaking move, the Central Bank of the UAE (CBUAE) has given preliminary approval to AED Stablecoin under its Payment Token Service Regulation framework. 🏦💻 This makes AED Stablecoin the frontrunner to launch the first regulated dirham-pegged stablecoin in the UAE! 💡 What does this mean? The AED Stablecoin could be used for local cryptocurrency trading on exchanges and decentralized platforms. It opens up new possibilities for merchants to accept the stablecoin for goods and services. 🛍️ The CBUAE's licensing framework favors fully cash-backed stablecoins, banning algorithmic stablecoins and privacy tokens, ensuring financial security and compliance. 🌐 Competition Alert! Tether, the world’s largest stablecoin issuer, is also entering the race, aiming to launch its own dirham-pegged stablecoin. 🔗 What does this mean for UAE’s crypto landscape? With major players like OKX and M2 launching platforms in the UAE, the future looks crypto-friendly and regulated! Stay tuned for more updates as UAE continues to roll out the crypto red carpet! 🚀💰 #UAE #Crypto #Stablecoin #Regulation #Fintech #DigitalCurrency #Blockchain #Cryptocurrency #CryptoNews #Compliance #Blockchain #CryptoNews #CryptoLending #Cryptotax #Cryptotaxes #Cryptoaccounting #Cryptocpa #crypto #btc #eth #bitcoin #cryptoaccountant

🚀 Exciting News for the UAE’s Digital Economy! 🚀 A major step towards crypto currency recognition in the UAE. AED Stablecoin LLC has received in-principle approval from the Central Bank of the UAE to launch and issue AE Coin, under the “Payment Token Services Regulation” (Circular No. 2/2024). What makes AE Coin stand out? As the UAE's first-ever regulated stablecoin, AE Coin represents a pivotal step toward transforming the digital currency landscape. It promises: Stability: Backed by regulation for secure transactions. Scalability & Efficiency: Facilitating fast, low-cost transactions. Innovation: Leading the way in seamless, secure digital financial services. As stated by Ramez Rafeek, General Manager of AED Stablecoin: "AE Coin will revolutionize the digital currency landscape by offering users an unparalleled blend of financial freedom, unwavering stability, and top-tier security." This marks a new era for digital finance in the UAE. 🌐💼 #DigitalCurrency #AEcoin #Stablecoin #Innovation #UAE #Fintech #Blockchain #Regulation

In 2024, the UAE's crypto sector saw remarkable progress with key developments: - **Tax Exemption**: Crypto transactions are now VAT-exempt, nurturing industry expansion. - **Dirham Stablecoin (AE Stablecoin)**: The UAE is developing a Dirham-pegged stablecoin, showcasing proactive regulation. - **Regulatory Clarity**: Dubai Court rulings provided clear guidelines on crypto trading regulations. - **Growing Adoption**: Businesses are increasingly embracing crypto payments, integrating digital assets into the mainstream. - **BitOasis Acquisition**: CoinDCX acquired BitOasis, underscoring its resilience in the MENA region. - **Full Licensing**: BitOasis obtained a full VASP license from VARA, boosting investor trust. These advancements establish the UAE as a leading global crypto hub with forward-looking regulations and a flourishing ecosystem. Looking ahead to 2025 with optimism! Happy New Year! #cryptocurrency #blockchaintechnology #crypto #UAE #blockchain #fintech Sources: - [Cryptopolitan](https://lnkd.in/dnJQu29z) - [Unlock-Bc](https://lnkd.in/dyQ8AYF6) - [Arabian Business](https://lnkd.in/dv357jqS) - [Cointelegraph](https://lnkd.in/dNubE_QS) - [Zawya](https://lnkd.in/djTTZqnC

🌍 Dubai Leads the Charge in Crypto Adoption! 🇦🇪 Exciting times are ahead as Dubai sets a new precedent in the world of digital currencies. The city’s Court of First Instance has made a groundbreaking decision to recognize cryptocurrency as a valid form of payment under employment contracts. This forward-thinking move is a clear signal that digital currencies are here to stay and will play a significant role in the future of global finance. But that’s not all—Europe is also making strides with the recent launch of a crypto debit card by MetaMask and Mastercard. This innovative card allows users to convert and spend their digital assets in fiat currency seamlessly, marking a major step towards mainstream cryptocurrency adoption. Dubai’s commitment to integrating cryptocurrencies into everyday life solidifies its position as a leading global crypto hub. The city is not just embracing the future—it’s shaping it. 🌟 I’m thrilled to be part of this dynamic industry and will be attending the upcoming blockchain conference in Dubai this October. Who else is coming? 🚀 #CryptoAdoption #DubaiBlockchain #DigitalCurrency #CryptoRevolution #FintechInnovation #BlockchainConference #Cryptocurrency #Web3 #GlobalFinance #FutureOfMoney

Big News from the UAE: Introducing the Dirham-Pegged Stablecoin! 🇦🇪 The Central Bank of the UAE (CBUAE) has granted in-principle approval for the AE Coin, the country’s first-ever stablecoin backed by the UAE dirham. This move marks a significant step towards reshaping the future of digital finance in the UAE. 🔹 AE Coin's integration with e-commerce platforms, mobile wallets, and financial institutions will revolutionize transactions in the region. 🔹 Users can engage in DeFi activities such as lending and borrowing without intermediaries, thanks to this innovative token. Why it Matters: ➡️ Empowering Innovation: AE Coin will drive blockchain innovation, ensuring secure, fast, and cost-effective transactions. ➡️ Financial Inclusion: The launch of AE Coin will provide underbanked communities and SMEs with easier access to financial services, fostering growth in the digital economy. ➡️ Supporting the UAE’s Vision: AE Coin reflects the UAE's commitment to becoming a global leader in digital assets and blockchain technology, fostering investment and technological advancement. Exciting times lie ahead as AE Coin paves the way for a transformative impact on businesses, individuals, and the economy in the UAE. Let's embrace this future of finance together! #AEcoin #UAE #DigitalTransformation #Blockchain #Innovation #FutureOfFinance