News with the tag "UAE central bank"

With Tether waiting in the wings, AED Stablecoin becomes the front-runner to launch the United Arab Emirates’ first regulated dirham-pegged token.

Tether, the issuer of the USDT stablecoin, announced its collaboration with Phoenix Group and Green Acorn Investments to develop a new stablecoin pegged to the United Arab Emirates Dirham (AED). The initiative is set to “lead the way” in seeking licensing under the country’s new regulatory framework...

KARM Legal Consultants founder Kokila Alagh said that the regulations clarify the issuance, licensing and supervision of AED-backed payment tokens.

The United Arab Emirates central bank said on Wednesday, May 31, that it has published new anti-money laundering and counter-terrorism financing … Continued The post UAE central bank issues new anti-money laundering guidance for cryptocurrencies appeared first on Finbold .