Stablecoin Payment Token Services : "This is how the Iraqi Dinar will be licensed" BY GOLDILOCKS, 27 JUNE

 GOLDILOCKS

👆 This is how the Iraqi Dinar will be licensed.

UAE Stablecoin Payment Token Services Regulation came out laying down the rules and conditions by the Central Bank of UAE for licenses pertaining to payment tokens, not allowing algorithmic tokens to be included and only allowing foreign stablecoins to be used to purchase virtual assets.

The Central Bank of the UAE defined Payment Token Services as being digital payment services in the UAE comprising of three categories, namely Payment Token Issuance, Payment Token Conversion and Payment Token Custody and Transfer.

The Central Bank Law provides the statutory basis for the powers of the Central Bank in relation to the licensing and ongoing supervision of Licensed Payment Token Service Providers, and related matters.

https://laraontheblock.com/uae-central-bank-regulation-segregates-stablecoin-usage/