UAE Enacts Landmark Law Integrating Digital Assets and DeFi into Banking

The United Arab Emirates has introduced a groundbreaking new central bank law that merges digital assets and decentralized finance (DeFi) into its traditional banking regulatory framework. Under Federal Decree No. 6, all cryptocurrency and blockchain entities operating within or from the UAE must obtain a license from the Central Bank of the UAE (CBUAE). This applies regardless of the specific technology employed.