United Arab Emirates (the) Stablecoin Regulation
Stage: Live
Regulator: Central Bank of the UAE (CBUAE); ADGM Financial Services Regulatory Authority (FSRA); DIFC DFSA; Virtual Assets Regulatory Authority (VARA) (Dubai VA intermediation)
The UAE operates live multi-jurisdictional issuance regimes. CBUAE Circular C 2/2024 licenses Dirham Payment Tokens and registers Foreign Payment Tokens for mainland payments. VARA licenses FRVA and ARVA issuance in Dubai excluding DIFC, and ADGM FSRA licenses Issuing a Fiat-Referenced Token. Interest on CBUAE payment tokens is banned and algorithmic tokens are prohibited.
Applicable Laws:
- Guidance on Regulation of Virtual Asset Activities in ADGM (Updated 2025) - https://en.adgm.thomsonreuters.com/rulebook/guidance-regulation-digital-securities-activities-adgm-24-february-2020
- Law No. (4) of 2022 - VARA - https://dlp.dubai.gov.ae/Legislation%20Reference/2022/Law%20No.%20(4)%20of%202022%20Regulating%20Virtual%20Assets.html
- Central Bank of the UAE - Stored Value Facilities Regulation - https://rulebook.centralbank.ae/en/rulebook/payment-token-services-regulation
