United Arab Emirates

Regulatory Status

Jurisdiction code

AE

Regime

Licensing

Regulator

VARA / ADGM FSRA / DIFC

Governing law

VARA Regulations 2023 / ADGM FSMR

Travel Rule

Enforced

Tracked entities

623

Recognized stablecoin backing

fiat-backed, crypto-backed, commodity-backed

Yield-bearing stablecoins

Restricted

Currency

AED

Regulatory approach

The CBUAE is the federal regulatory authority responsible for licensing and supervising Payment Token Service Providers (issuers, custodians, conversion providers). Oversees safety, soundness, consumer protection, and AML/CFT compliance for digital payment services in the UAE. VARA is a public corporation established under Dubai law to regulate and supervise virtual asset services in the Emirate of Dubai. Affiliated with the Dubai World Trade Centre (DWTC) Authority, VARA serves as the competent authority for licensing and overseeing virtual asset service providers, platforms, and related activities. The Financial Services Regulatory Authority (FSRA) is the independent regulator of Abu Dhabi Global Market (ADGM). It oversees and enforces financial services regulations in ADGM, including rules for digital assets and stablecoins. The FSRA sets standards for market integrity, consumer protection, and international compliance within the ADGM financial free zone.

Licensed entities in United Arab Emirates

Showing 100 of 623 regulated-entity records tracked in United Arab Emirates by Plexo Institute.

Browse all 623 records in the regulated-entity registry, including the remaining 523 in United Arab Emirates.

Stablecoin laws in United Arab Emirates

Primary legal texts Plexo Institute tracks for United Arab Emirates.

• Guidance on Regulation of Virtual Asset Activities in ADGM (Updated 2025) (enacted 2025-06-10)

  Establishes legal framework for digital assets in Abu Dhabi Global Market, including stablecoins, treating them as regulated financial instruments. Summary of ADGM Stablecoins Regulation:; ADGM (Abu Dhabi Global Market) has a dedicated framework for "Fiat-Referenced Tokens" (FRTs), a specific type of stablecoin.; An FRT is defined as a digital asset backed 1:1 by a single fiat currency and redeemable upon demand at its issuer for that fiat.; Only "Accepted FRTs" (FSRA-approved) can be used in regulated activities in ADGM; any use of FRTs requires compliance with special rules and guidance in the ADGM regulatory code (notably Chapters 17 and 19A of COBS).; Stablecoins not backed by fiat (e.g., crypto-backed, commodity-backed, algorithmic) are not automatically permitted, as the FSRA requires those seeking to issue or use such assets to contact the regulator for specific guidance and potential case-by-case treatment.; The FSRA recognizes that "stablecoin" is a broad, international term, but only those tokens meeting its strict "FRT" definition have a defined regulatory pathway in ADGM.; The framework is live and enforced, and entities dealing in stablecoins must ensure their tokens fit the compliant criteria or seek individualized approval from the FSRA.

• Law No. (4) of 2022 - VARA (enacted 2022-03-09)

  Creates VARA, granting it authority to license and supervise virtual asset activities, including stablecoin issuance and exchange in Dubai (excluding DIFC). VARA does not establish a dedicated stablecoin regulatory framework. Instead, stablecoins fall under VARA's discretionary authority to classify and regulate virtual assets as service providers and activities. Summary of Stablecoins Regulation under VARA:; VARA has no statutory definition or classification of stablecoins in Law No. (4) of 2022. Stablecoin treatment is determined through VARA's implementing resolutions, which are published on its website with binding legal force.; All stablecoin activities (issuance, trading, custodial services, exchange) require a VARA permit. Service providers must obtain approval before conducting business in Dubai.; VARA maintains discretionary authority to classify any virtual asset, including stablecoins of any type (fiat-backed, crypto-backed, commodity-backed, or algorithmic), and can add specific requirements or prohibitions through resolutions at any time.; The regulator has not publicly issued stablecoin-specific guidance distinguishing between fiat-backed, crypto-backed, commodity-backed, or algorithmic types. Entities seeking clarity on specific stablecoin models are required to contact VARA directly for regulatory guidance and case-by-case assessment.; VARA retains the power to suspend or cease dealings in any virtual asset, including stablecoins, if public interest is threatened, without requiring prior statutory amendment.; The regulatory approach is activity-focused rather than asset-focused. Compliance requirements are determined by VARA's discretionary resolutions, not by pre-defined stablecoin categories in legislation.; Entities dealing in stablecoins must obtain VARA permits and comply with all applicable resolutions; non-compliant or unapproved stablecoin activities may be subject to enforcement action, fines, or permit revocation.

• Central Bank of the UAE - Stored Value Facilities Regulation (enacted 2020-11-15)

  Provides rules for e-money and stored value facilities, applicable to fiat-backed stablecoins operating as payment instruments.

Central bank digital currency in United Arab Emirates

Plexo Institute tracks 1 central bank digital currency programme in United Arab Emirates.

• Digital Dirham — Status: Development · Central bank: Central Bank of the UAE (CBUAE) · Model: Both · Technology: Under evaluation

Relationship Graph

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Jurisdiction FAQ

Who regulates United Arab Emirates?

The current Plexo Institute record lists VARA / ADGM FSRA / DIFC as the regulator for United Arab Emirates.

How many VASPs are tracked in United Arab Emirates?

623 VASP/entity records are tracked by Plexo Institute in United Arab Emirates.

What is the Travel Rule status in United Arab Emirates?

The current Plexo Institute record lists the Travel Rule status for United Arab Emirates as Enforced.

Source Evidence

This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.

• VARA Licensed Entities
• ADGM FSRA Register
• Atlantic Council Tracker