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

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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.

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Traffic alert: New diversion announced on Sharjah’s Al Khan Road starting Friday

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Sharjah Roads and Transport Authority has announced a temporary traffic diversion on Al Khan Road as part of ongoing road expansion and bridge construction works aimed at improving traffic flow across the emirate.

The diversion will take effect from Friday, with authorities urging motorists to follow approved detour routes and traffic instructions during the construction period.

According to the authority, the works are part of wider infrastructure upgrades designed to reduce congestion and enhance connectivity in one of Sharjah’s busiest traffic corridors.

Drivers have been advised to plan journeys, use alternative routes where possible and comply with traffic safety guidelines to help maintain smooth traffic movement in the area.

The project forms part of Sharjah’s broader transport development strategy focused on upgrading road networks and supporting the emirate’s growing population and mobility needs.

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Dubai announces Dh1.5 billion package to protect jobs and support businesses

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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has approved a fresh Dh1.5 billion economic support package aimed at protecting jobs, easing pressure on businesses and strengthening Dubai’s economy during a challenging period for the region.

The latest measures bring the total value of Dubai’s recent economic support initiatives to Dh2.5 billion, following an earlier Dh1 billion package introduced earlier this year.

The new package includes 33 initiatives that will be rolled out over the next three to 12 months, targeting key sectors including tourism, hospitality, trade, education and customs services.

One of the biggest beneficiaries is Dubai’s hotel and tourism industry, with several major fee relief measures announced to reduce operating costs.

Hotels across the emirate will be allowed to postpone 100 per cent of government sales fees on rooms as well as food and beverage services for three months. The relief applies to hotels, hotel apartments and holiday homes.

Dubai has also postponed the Tourism Dirham fee, a charge applied to hotel stays for up to 30 consecutive nights, for the same period. Hotels will additionally be exempt from permit, postponement and cancellation fees related to events.

Retailers and commercial businesses are also expected to benefit, with Dubai removing additional charges linked to sales campaigns and promotional offers. The move is likely to encourage more discounts and shopping promotions across the city over the coming months.

The package further includes streamlined procedures for residency permit issuance and renewals, although detailed implementation guidelines are yet to be announced.

Other sectors receiving support include education, customs, transport and aviation. Measures include deferred licence renewal fees for educational institutions, payment deferrals in the transport sector, an 80 per cent reduction in customs fines and a 50 per cent cut in fees for renewing civil aviation permits.

In a statement shared on X, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the initiatives reinforce Dubai’s economic resilience and competitiveness while strengthening partnerships between the government and private sector.

He added that Dubai remains committed to supporting businesses and residents while continuing to position itself as a leading global economic hub.

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Free parking in Sharjah during Eid Al Adha: What motorists need to know

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Sharjah City Municipality has announced free public parking across the emirate during the first three days of Eid Al Adha as part of a wider citywide operational plan to ensure smooth celebrations and public safety.

The municipality confirmed that parking fees will be waived on the first, second and third days of Eid, except in paid zones marked with blue signboards, which remain operational throughout weekends and public holidays. Smart parking areas in tourist destinations and major commercial districts will also continue to operate around the clock via the Sharjah Digital platform and app.

Inspectors to monitor markets

Also, as part of the Eid readiness campaign, the municipality said 239 inspectors will be deployed across the emirate to monitor markets, public facilities and commercial establishments during the holiday period.

Authorities have also assigned 35 veterinarians to oversee livestock inspections and ensure health and safety standards are maintained at animal markets and slaughterhouses ahead of Eid sacrifices.

The municipality said the measures are part of a broader effort to enhance public services, maintain cleanliness and safety standards, and ensure residents and visitors enjoy a smooth and organised Eid holiday across Sharjah.

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