{"id":137128,"date":"2024-09-12T13:00:11","date_gmt":"2024-09-12T10:00:11","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137128"},"modified":"2024-09-11T19:52:11","modified_gmt":"2024-09-11T16:52:11","slug":"uae-regulators-unite-to-streamline-crypto-licensing","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/uae-regulators-unite-to-streamline-crypto-licensing\/","title":{"rendered":"UAE Regulators Unite to Streamline Crypto Licensing"},"content":{"rendered":"<p>This <strong><a href=\"https:\/\/www.sca.gov.ae\/en\/media-center\/news\/9\/9\/2024\/sca-and-vara-set-regulatory-framework-for-the-uaes-virtual-assets-sector-in-boost-to-the-countrys-.aspx\" target=\"_blank\" rel=\"nofollow\">agreement<\/a><\/strong> simplifies the licensing process for virtual asset service providers (VASPs), allowing those licensed in Dubai to operate across the UAE, though separate licenses are needed for other emirates.<\/p>\n<p>The collaboration ensures coordinated supervision of crypto firms, covering areas like enforcement, data sharing, and staff training.<\/p>\n<p>VARA\u2019s chairman, Helal Saeed Al Marri, noted that this move represents a key step toward unified regulation and market confidence, while SCA\u2019s chairman, Mohamed Ali Al Shorafa, highlighted its role in supporting the sector\u2019s growth and compliance.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ripple-exec-criticizes-us-regulators-for-targeting-crypto\/\" title=\"Ripple Exec Criticizes US Regulators for Targeting Crypto\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/money-laundering-why-it-s-bad-for-society-business-and-the-economy-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ripple Exec Criticizes US Regulators for Targeting Crypto<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Additionally, the UAE\u2019s legal system has recognized cryptocurrencies as a valid payment method in employment contracts, marking a significant legal endorsement.<\/p>\n<p>This comes as a study places the UAE among the top countries globally for cryptocurrency adoption, showcasing its progressive stance in the digital asset space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UAE is enhancing its crypto regulatory framework with a new partnership between its federal financial authority, the Securities and Commodities Authority (SCA), and Dubai\u2019s Virtual Assets Regulatory Authority (VARA).<\/p>\n","protected":false},"author":3,"featured_media":29950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-137128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UAE Regulators Unite to Streamline Crypto Licensing<\/title>\n<meta name=\"description\" content=\"The UAE is enhancing its crypto regulatory framework with a new partnership between its federal financial authority, the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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