UAE Central Bank and Financial Institutions Decree-Law

Article 62 — Article (62) Carrying on Licensed Financial Activities through Emerging Technologies

Part Three: Regulation of Licensed Financial Institutions and Activities · Chapter Two: Licensing · Section One

Without prejudice to the Licensed Financial Activities referred to in item (1) of Article (61) of this decree-law, any Person carrying on, offering, issuing, or facilitating, whether directly or indirectly, any Licensed Financial Activity – regardless of the medium, technology, or form employed – shall be subject to the licensing, regulatory, and oversight jurisdiction of the Central Bank. This includes the following: 1. Virtual Assets payment tokens, decentralized finance (DeFi), other emerging technology, or other digital or physical instruments used in connection with the Licensed Financial Activities; and 2. Offering or operation of platforms, decentralized applications (dApps), protocols, or technological infrastructure that facilitate, intermediate, or enable the provision of financial services, such as payments, credit, deposits, money exchange, remittances, or investment services.

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