Attorney Irina Heaver Signals Potential for Upcoming Cryptocurrency Payment Limitations in the UAE

YEREVAN (CoinChapter.com) — Irina Heaver, a prominent crypto and blockchain lawyer, has raised concerns about the potential impact of new regulations introduced by the Central Bank of the United Arab Emirates (CBUAE) on the cryptocurrency industry. During a meeting on June 5, the board of directors delved into projects falling under the financial infrastructure (FIT) program, with the goal of advancing digital transformation. Of particular note was the approval of fresh guidelines pertaining to payment token services. These guidelines mandate that such tokens must be supported by UAE dirhams and cannot be tied to any other currencies.