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ARTICLE · 25 MARCH 2024

Dubai's DIFC Launches 'Groundbreaking' Digital Assets Law

TMT and Fintech partner, Nadim Bardawil, recently spoke to Arabian Business regarding the DIFC's new Digital Assets Law, which came into effect on March 8, and defines the legal characteristics...

United Arab EmiratesTechnology

TMT and Fintech partner, Nadim Bardawil, recently spoke to Arabian Business regarding the DIFC's new Digital Assets Law, which came into effect on March 8, and defines the legal characteristics of digital assets as a form of property, outlining how they can be controlled, transferred, and dealt with by interested parties.

What does this mean for Dubai's digital assets sector?

It is important to first note that the DIFC Digital Assets Law (the "DLA") is not applicable to the entire Emirate of Dubai but only to the DIFC. The DLA is another feather in the cap of the UAE which is positioning itself at the forefront of providing a legislative model to integrate digital assets in the day-to-day economy.

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