News

Dubai’s monetary controller intends to dispatch cryptographic money guidelines in final quarter

Published

5 years ago

October 26, 2021

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Dubai controller dispatches expansive system for speculation tokens.

The Dubai Financial Services Authority (DFSA) plans to dispatch a different administrative system covering ‘trade tokens’ (also called cryptographic forms of money), utility tokens and certain resource supported tokens (Stablecoins) in the final quarter.

“Our meeting on speculation tokens empowered us to get what firms were searching for in an administrative system and present a system that is applicable to the market,” said Peter Smith, Managing Director, Head of Strategy, Policy and Risk at DFSA.

Dubai’s monetary area guard dog dispatched its administrative system for speculation tokens. The system mirrors the proposed guidelines illustrated in Consultation Paper 138 gave in March last and will shape the first of two periods of the DFSA’s Digital Assets system.

The administrative system characterizes a speculation token as either a security token or a subordinate token. They are:

• A security or subsidiary as a cryptographically gotten computerized portrayal of privileges and commitments that is given, moved and put away utilizing disseminated record innovation (DLT) or other comparative innovation; and

• A cryptographically got advanced portrayal of freedoms and commitments that is given, moved, and put away utilizing DLT or other comparable innovation and: (I) gives privileges and commitments that are significantly comparative in nature to those gave by a Security or Derivative; or (ii) has a generously comparative reason or impact to a Security or Derivative.

The venture tokens’ administrative system applies to people or substances intrigued to advertise, issue, exchange or hold speculation tokens in or from Dubai International Financial Center (DIFC). It applies to approved firms wishing to embrace monetary administrations identifying with venture tokens or overseeing optional portfolios or aggregate speculation supports putting resources into venture tokens.

Business

No cash? No card? No problem: Now shop at Dubai Duty Free with crypto

Published

5 mins ago

August 5, 2026

Michael Gomes

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Dubai Duty Free has become the first airport retailer in the Middle East to introduce Crypto.com Pay, allowing eligible UAE residents to pay for purchases using their Crypto.com accounts.

The new payment option is now available at Dubai International Airport (DXB), Al Maktoum International Airport (DWC/AMIA) and online at Dubai Duty Free’s website.

The rollout follows a strategic partnership signed between Dubai Duty Free and Crypto.com in July 2025 and supports Dubai’s wider push towards a cashless economy under the D33 Economic Agenda.

How it works

For in-store purchases, shoppers simply select Crypto.com Pay at checkout, scan the QR code displayed at the counter using the Crypto.com app and approve the payment. The transaction is processed instantly, with Dubai Duty Free receiving settlement in UAE dirhams.

Online shoppers can also choose Crypto.com Pay during checkout, scan the QR code generated on the payment page and confirm the transaction through the Crypto.com app. Mobile users are redirected directly to the app before returning to complete their purchase.

Available for eligible UAE residents

The service is currently available to eligible UAE residents with a Crypto.com account. Payments are processed through Crypto.com’s regulated payment platform, with transactions settled in dirhams.

Dubai Duty Free said the launch expands its range of digital payment options, which already includes Apple Pay, Alipay and TerraPay, while offering customers another convenient way to pay.

The move also strengthens Dubai’s ambition to become a global leader in digital commerce, with the emirate targeting 90 per cent of financial transactions to be cashless by the end of 2026.

News

Visiting Wafi Mall? Your parking can now be paid through Salik

Published

20 hours ago

August 4, 2026

Michael Gomes

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Parking at Wafi Mall has gone fully digital.

Parkonic has introduced its ticketless parking system at the popular Dubai mall, allowing motorists to pay parking fees automatically through their Salik accounts or by scanning a QR code before leaving.

When drivers enter the car park, their vehicle’s number plate is automatically scanned, creating a digital parking ticket without the need for paper tickets or parking machines.

Parking charges

First 3 hours: Free
3–4 hours: Dh15
Each additional hour (or part): Dh10

Parking charges apply Monday to Friday, while parking remains free on Saturdays, Sundays and public holidays.

Drivers who leave and return after using their three free hours will be treated as a new entry. However, to receive another three hours of free parking on the same day, there must be a two-hour gap between visits.

There are no cash payment options or parking machines at the site. Visitors without a Salik account, or those with insufficient balance, must pay using an alternative payment method before exiting.

Loading bay vehicles are eligible for one extra hour of free parking once validated.

Parkonic warned that motorists who fail to pay the required parking fees could face fines, blacklisting or legal action.

The operator has been expanding its ticketless parking network across the UAE, with recent rollouts at West Yas Plaza, Yas Bay, Yas Marina, selected Choithrams stores, Discovery Gardens and Palm Jumeirah Crescent.

News

Four-day deadline for Sharjah motorists to claim impounded vehicles

Published

20 hours ago

August 4, 2026

Michael Gomes

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If your vehicle has been impounded in Sharjah, now is the time to check.

Sharjah City Municipality has given owners of impounded vehicles, machinery, motorcycles and bicycles four days to complete the necessary release procedures or risk having their property sold at a public auction.

The warning applies to vehicles and equipment that have remained impounded for more than six months.

Owners are required to visit the Control and Inspection Department in Industrial Area 5 to resolve the reason for the impoundment and complete the legal procedures needed to recover their property.

After the deadline, any unclaimed vehicles or equipment will be put up for public auction.

To help owners, the municipality has published a list of all affected vehicles on its official website, allowing residents to check whether their vehicle is included before visiting the department.

The move is part of Sharjah Municipality’s ongoing efforts to regulate impounded assets and encourage owners to complete the required procedures within the specified timeframe.