Dubai Duty Free Economic Zone DIFC implements new digital asset law

BlockBeats News, March 15, according to The Block, earlier this week, the DIFC, a tax-free special economic zone in Dubai, the United Arab Emirates, announced the promulgation of its new digital asset law. In addition to the new security law and related amendments to existing legislation, the regulations are intended to help the DIFC keep pace with technological developments in international trade and financial markets, and provide legal clarity for investors and users of digital assets. The DIFC’s digital assets law, which comes into force on March 8, was developed following a review of regulatory practices around the world and a public consultation period last year.