UAE’s new financial law pulls DeFi and Web3 into regulatory scope

In recent developments, federal Decree Law No. 6 expands the UAE central bank’s authority over DeFi, ending the “just code” defense and imposing penalties of up to $272 million. Looking…

UAE and China Complete Landmark Transaction Using Digital Dirhams

In recent developments, the government of the UAE completed the first transaction using digital dirhams, its CBDC, to make a cross-border payment to China. The development, which leveraged the Mbridge…