United Arab Emirates: Financial Services

The Capital Market Authority of the United Arab Emirates has introduced a comprehensive new licensing regime for Virtual Asset Service Providers, establishing eight distinct regulated activities with risk-based capital requirements and enhanced governance standards. The framework consolidates previous regulations while introducing stricter controls on privacy tokens, algorithmic tokens, and client asset holdings, positioning the UAE as a leading hub for regulated digital asset innovation.

On 31 March 2026, the Virtual Assets Regulatory Authority (“VARA”) published Part V of the Exchange Services Rulebook, formally codifying the regulatory framework for Exchange Traded Derivative (“ETD”) Services.

The global financial landscape is undergoing a significant transformation driven by the rapid adoption of virtual assets and the underlying blockchain technology. Once viewed as experimental digital innovations, virtual assets have, by 2026, become integral components of the modern financial system, offering high transaction speeds, enhanced efficiency, and borderless accessibility.

The United Arab Emirates has, over recent years, moved decisively from a fragmented, product-by-product approach to a coherent licensing and supervision framework for payment services.

Recent communications from the UAE movable collateral registry system have reminded users of a mandatory obligation to review and update all "Prior Notices" registered in 2018 that have not been amended to date.

The publication in the Official Gazette of the UAE on January 1, 2026, brought into effect significant changes to the regulatory landscape in the UAE.

As we mark 20 years in Dubai, we're reflecting on the city's transformation into a global financial centre – and our journey as the first international...

Rory Copeland, senior associate in our financial services regulatory team, is joined by partners Jodi Norman (Dubai) and Agnes Tsang (Hong Kong), and counsel Philippe Noeltner (Luxembourg)...

The UAE's Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a strategic partnership in August to align regulatory frameworks for virtual assets across the country.