Cabinet Decision No. 99 of 2024 on the Regulation of Violations and Administrative Penalties for Acts Committed in Violation of the Provisions of Cabinet Decision No. 111 of 2022 on the Regulation of Virtual Assets and Their Service Providers

The Cabinet:
- Having reviewed the Constitution,

- Federal Law No. 4 of 2000 Concerning the Emirates Securities and Commodities Authority and Market and its amendments,

- Cabinet Decision No. 111 of 2022 on the Regulation of Virtual Assets and Their Service Providers,

- Upon the presentation of the Minister of Finance and the approval of the Cabinet,

has decided:

Article 1 - Definitions

In the application of the provisions of this decision, the following words and phrases shall have the meanings indicated next to each of them, unless the context requires otherwise:

State: United Arab Emirates.

Authority: Securities and Commodities Authority.

Chairman: Chairman of the Board of Directors of the Authority.

Local Licensing Authority: The local authority competent to regulate virtual assets in the concerned Emirate.

Cabinet Decision: Cabinet Decision No. 111 of 2022 on the Regulation of Virtual Assets and Their Service Providers.

Rule...