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Dubai Adopts Initial Crypto Law, Establishes Independent Authority for Oversight
"The future belongs to whoever designs it," tweeted Sheikh Mohammed bin Rashid Al Maktoum.
By Amitoj Singh
Updated May 11, 2023, 6:18 p.m. Published Mar 9, 2022, 1:38 p.m.
Aiming to be a "major player" globally in digital assets, Dubai's ruler announced the creation of a regulatory and licensing authority.
- "The future belongs to whoever designs it," tweeted Sheikh Mohammed bin Rashid Al Maktoum. "Today, through the virtual assets law, we seek to participate in the design of this new and rapidly growing global sector."
- The independent authority, he continued, will "oversee the development of the best business environment in the world for virtual assets in terms of regulation, licensing, governance, and in line with local and global financial systems."
- The Emirate of Dubai is one of seven emirates forming the nation of the United Arab Emirates (UAE). Another emirate, Abu Dhabi, has also been aggressive in its aim to become a crypto hub.
- The Securities and Commodities Authority of the UAE issued a statement Tuesday saying it was nearing the issuance of a regulatory framework related to digital assets.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
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