{"id":140065,"date":"2024-10-18T18:00:14","date_gmt":"2024-10-18T15:00:14","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140065"},"modified":"2024-10-18T17:17:54","modified_gmt":"2024-10-18T14:17:54","slug":"uae-central-bank-grants-initial-approval-for-dirham-pegged-stablecoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/uae-central-bank-grants-initial-approval-for-dirham-pegged-stablecoin\/","title":{"rendered":"UAE Central Bank Grants Initial Approval for Dirham-Pegged Stablecoin"},"content":{"rendered":"<p data-pm-slice=\"0 0 []\">This <strong><a href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/aed-stablecoin-llc-nmn0rfrh\" target=\"_blank\" rel=\"nofollow\">move<\/a><\/strong> comes amid recent licensing rules that limit crypto payments, except for approved dirham-backed tokens, alleviating concerns about possible restrictions.<\/p>\n<p>If fully licensed, AED Stablecoin\u2019s AE Coin could be used for crypto trading and merchant payments, paving the way for broader digital currency use in the UAE.<\/p>\n<p>The central bank\u2019s framework favors stablecoins backed by cash reserves, excluding algorithmic and privacy-focused tokens. Issuers must either hold all reserves in dirhams or split them between cash and short-term government securities.<\/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\/goldman-sachs-anticipates-fed-rate-cuts-raising-questions-for-crypto-investors\/\" title=\"Goldman Sachs Anticipates Fed Rate Cuts, Raising Questions for Crypto Investors\">\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\/goldman-sachs-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Goldman Sachs Anticipates Fed Rate Cuts, Raising Questions for Crypto Investors<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>As the competition heats up, Tether has announced plans for its own dirham-backed stablecoin through local partnerships, while the UAE continues to attract global crypto firms.<\/p>\n<p>Recent developments include OKX launching a local trading platform and M2 offering direct dirham-to-crypto conversions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UAE&#8217;s Central Bank has taken a significant step by granting initial approval to AED Stablecoin, setting it up to potentially be the first officially regulated dirham-pegged stablecoin in the region.<\/p>\n","protected":false},"author":9,"featured_media":62127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,25],"tags":[],"class_list":["post-140065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","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 Central Bank Grants Initial Approval for Dirham-Pegged Stablecoin<\/title>\n<meta name=\"description\" content=\"The UAE&#039;s Central Bank has taken a significant step by granting initial approval to AED Stablecoin, setting it up to potentially be 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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