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.
The Governor of the Central Bank, Ali Mohsen Ismail Al-Alaq, when he announced the third strategic plan for the years (2024-2026), includes a set of main and sub-objectives and initiatives to achieve the bank’s plan.
The governor stated that the plan paid special attention to the supervision of the banking sector, in order to build a “sober” banking sector, while the plan, according to the relationship, focused on the non-banking financial institutions sector [investment banks, hedge funds, insurance companies, mortgage lenders etc].
In the first strategic objective identified as Enhancing monetary stability the CBI lists four facets of this effort.
In these four there are list ten initiatives.
In examining the ten it appears that nine of the ten have already been initiated.
The one initiative waiting in the wings is the and I quote, “Introduce NEW ISSUES of high-quality currency.”
I’m certain this is a reference to new lower denominations and since it is a subset of the FIRST strategic objective, it is thus identified as foundational to move forward for the banking sector’s stability.
It seems based on the plan to be the only foundational initiative remaining to be implemented.
This is interesting when we get to the point where it’s very quiet - we know that we are close and this is about to go – on Saturday the RC had a 2 and half hour vimeo call - don’t know what it was about but we know RC staff went in for four hours on Monday - two people overlapping for 7 hours staying thinking that the 800’s would come out and they’d get the email from WF –
our understanding now is that tomorrow is looking very good for us to get those 800’s and this is coming from the Head herself of the RC fully expecting to be notified tomorrow – and hearing from sunset tonight to mid-morning tomorrow, so that narrows it down and also we might well wake to those emails overnight – that is a possibility. When you get right down to it – there is not a whole lot else we are interesting ONLY when are we going to get those number and notifications.
I have spoken about the contract rate for the IQD and also it’s quite possible for that new rate to go into the Gazette tomorrow Wednesday. Regarding contract rates it’s very high and tied to the per barrel rate that Iraq is selling to Turkey or other nations and yesterday I got that the contract rate would be offered to all US citizens that have Dinar and if you are not a US Citizen you’ll end up with the rate on the screen and the rates are moving up and the Dong is also on the screen at a decent rate also - but now we are really getting down to it and we’ll take it from there and hopefully exchanges Wednesday afternoon/evening or Thursday –
bring your identification all that we’ve mentioned before to the exchange, just as proof of residency and be ready for this to go quickly and if you have tons of currency and bonds, let them know when you call. And now Bruce is again talking about Sue and her new class.
So I’m sure that’s ALL Bruce has for us for intel tonight - but it’s Good intel we just have to see it actually manifest – and as Bruce keeps saying THEY ONLY HAVE TO GET IT RIGHT ONCE - so without a doubt Bruce will again be thanking all his team. Also without doubt he’ll pray out the call - so please pray with Bruce and keep those heartfelt prayers being said and see if our Father Creator will bring this Heavenly Blessing that this is the Season and The Time for this to finally happen for the whole of Humanity - remember ALL our prayers are just powerful.
Well the call confirmed what I had posted earlier plus indicated the exchange process will begin in China move eastward to Europe and then to the US and they anticipate a start soon but cannot confirm the exact start date.
They are also positive we are almost there.
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Texas Snake,
[06/21/2024, 6:30:45 p. m.]:
It's been awhile since I last posted however I only post when the info is confirmed.
Well the WF Banker responsible for 5 states exchange centers has advised that all his trained specialists will be on a one hour call to their assigned positions all this coming weekend and were cautioned this event could very well be activated so they should be aware of their duties for the next several weeks.
First they schedule appointments then they operate the necessary machinery at the various banks to complete the exchanges for US currency.
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Well one item that was confirmed during the call is that there were hundreds of ATM machines positioned all over the city and loaded with new lower denomination notes. They anticipate this weekend or during the Holy Week celebration.
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Texas Snake, [06/21/2024, 6:30:46 p. m.]:
It's been awhile since I last posted however I only post when the info is confirmed. Well the WF Banker responsible for 5 states exchange centers has advised that all his trained specialists will be on a one hour call to their assigned positions all this coming weekend and were cautioned this event could very well be activated so they should be aware of their duties for the next several weeks.
First they schedule appointments then they operate the necessary machinery at the various banks to complete the exchanges for US currency.