ChainCatcher news, the board of the Central Bank of the United Arab Emirates (CBUAE) has approved the release of regulations for the licensing and regulation of stablecoins, which clarify the issuance, licensing, and regulation of payment tokens backed by the UAE Dirham (AED). UAE lawyers stated that payment tokens must be backed by the UAE Dirham (AED) and cannot be pegged to other currencies, digital assets, or algorithms. Merchants and service providers can only accept AED-backed tokens and cannot accept other virtual assets.

ChainCatcher news, after the vote in the National Assembly, the French crypto industry will see more lenient regulations regarding regulatory registration. A stricter amendment that followed the FTX collapse has been canceled.It is reported that lawmakers agreed to an amendment proposed by Senator Daniel Labaronne, which suggested abolishing the mandatory licensing and allowing crypto companies to register with the Financial Markets Authority according to the provisions already outlined in the EU Crypto Assets Market Regulation. This includes requirements for governance, reporting to regulators, and fund segregation. Companies that are already registered under existing anti-money laundering provisions will be able to continue operating until the transition period provided by MiCA ends, which could be in 2026. (source link)