Law Firm ILN-telligence Podcast | Episode 74: Ziad Salloum, Salloum & Partners, United Arab Emirates
The Senate has yet to take action on the 21st Century Act (FIT21) (H.R.4763) which passed the House by a comfortable margin of 279-136 on May 22, 2024. FIT21 is a proposed landmark piece of legislation that would enact a...more
A recent judgment from the Dubai Court of First Instance determined that part of an employee’s remuneration can be paid in cryptocurrency, but notably does not change the basic principle that cryptocurrencies cannot be the...more
In recent years, the global economy has witnessed the popularity and adoption of cryptocurrencies, with Dubai emerging as a notable player in this digital financial landscape. As the market for virtual assets continues to...more
On 13 June 2024, the DIFC Court of Appeal (the "DIFC CoA") handed down a groundbreaking judgment in Huobi v Tabarak in which the Head of the Digital Economy Court, Justice Michael Black KC (the "Appeal Judge"), reviewed the...more
In recent years, the world has witnessed rapid growth in the popularity and adoption of virtual assets, including cryptocurrencies, non-fungible tokens (NFTs), and various other digital assets. With this rise, however, comes...more
CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more
The Dubai Virtual Assets Regulatory Authority (VARA) has officially launched its highly anticipated licensing framework for virtual asset service providers (VASPs), ushering in a new era of regulatory oversight for virtual...more
Recognising new realities in decentralisation, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations. On 2 October 2023, the Board of Directors of Abu...more
In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more
U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more
With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more
In recent years, regulators within the United Arab Emirates (the UAE) have worked to foster an environment for the sustainable growth of the UAE virtual asset sector through the enactment of several regulatory measures...more
The Dubai Financial Services Authority’s ("DFSA") Business Plan 2023–2024, published last week, marks the continuing maturity of the Dubai International Financial Centre ("DIFC") as a leading global centre for finance and...more
In Short - The Situation: On 11 March 2022, Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai (the "Law") came into effect. The Law establishes the foundation of a regulatory regime for virtual assets...more
What you need to know about the VARA Marketing Regulations - Following the issuance of Law No.4 of 2022 on the Regulation of Virtual Assets in February 2022 (the "DVAL") and the establishment of the Dubai Virtual Assets...more
Virtual asset is an innovative technology representing value which could be stored, traded, transferred or used as a payment tool in a digital form. Bitcoin, crypto assets, non-fungible tokens (NFTs) are all virtual assets. ...more
The new law establishes the Dubai Virtual Assets Regulatory Authority and identifies activities to be regulated, such as operating virtual asset platforms. On March 11, 2022, Dubai Law No. 4 of 2022 on the Regulation of...more
On 28 February 2022, the Ruler of Dubai issued Law No.4 of 2022 on the Regulation of Virtual Assets (the "DVAL") in Dubai, which came into effect on 11 March 2022. The DVAL is the first law in Dubai, which specifically...more
As the global digital asset industry continues to grow, regulators worldwide have increased efforts to define and shape the legal landscape through various approaches. In the UAE, for example, the Financial Services...more
The Abu Dhabi Global Market’s Guidance clarifies and expands FSRA expectations for OCAB Framework license holders. In June 2018, the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) unveiled a...more
The SCA’s decision marks a significant step towards achieving enhanced regulation of digital securities and commodities in the UAE. Key Points: ..The announcement signals a change in the SCA’s position following its...more