UAE to Restrict Encrypted Payments Only Allowing CBDC Transactions Cryptocurrency Lawyer Warns Against Impeding Digital Economy Growth
Cryptocurrency lawyer Irina Heaver tweeted that the “Stablecoin Regulation and Licensing Framework” approved by the Central Bank of the UAE (CBUAE) earlier this month effectively prohibits stablecoin payments other than those based on the local currency, the Emirati Dirham (DH). This move is seen as unfavorable for the country, which has been considered a strong advocate for the digital economy.
