#CryptoRegulation Latest guidelines from EU authorities regarding stablecoin regulations.
In January, the European Securities and Markets Authority (ESMA) directed all cryptocurrency exchanges to verify whether the assets listed on their platforms are compliant with MiCA laws.
Regulations for digital currencies vary significantly from country to country in the Middle East. Here are some examples of Gulf countries and their approach to digital currency regulation:
Regulation of digital currencies in Gulf countries
- *United Arab Emirates*: The United Arab Emirates has established a regulatory framework for digital currencies, with the Securities and Commodities Authority (SCA) overseeing digital assets. Companies wishing to operate in the digital currency space must obtain a license from the SCA.
- *Saudi Arabia*: The Kingdom of Saudi Arabia has taken a more cautious approach, banning transactions in digital currencies in 2018. However, the Kingdom is exploring the possibilities of digital assets and launched its first platform for trading non-fungible tokens (NFTs) in 2021.
Regulations for digital currencies vary significantly from country to country in the Middle East. Here are some examples of Gulf countries and their approach to digital currency regulation:
Regulation of digital currencies in Gulf countries
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