UAE has not legalised crypto currencies, says Central Bank

Abu Dhabi: The Central Bank of the UAE (CBUAE) on Sunday clarified that it has not legalised crypto currencies by issuing the Stored Value Facilities (SVF) Regulation. The CBUAE had recently issued the SVF Regulation, and is in the process of issuing the Retail Payment Services Regulation, which is aimed at defining the regulatory treatment on crypto-assets. “In view of certain publications, which have claimed that the CBUAE has implicitly “legalized” crypto-currencies in the UAE, we would like to clarify the objective of our recent SVF Regulation,” the central bank said in a statement. Not ac…
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