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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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Sharjah announces residential parking permit in 3 neighbourhoods

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Sharjah City Municipality has introduced a residential parking permit system in Al-Fisht, Sharqan and Al-Rifa’a to reserve parking spaces for residents and prevent misuse.

The new system is aimed at improving parking management and ensuring residents have better access to spaces near their homes.

Inspection campaign

Alongside the rollout, the Municipality has conducted inspections to identify parking violations in the three areas.

One of the main issues found was non-residents parking outside residential properties to avoid paying public parking fees.

Authorities have warned motorists who do not live in these areas against using residential parking spaces.

Violators could face legal and administrative action.

What residents should know

The residential permit system is intended to ensure designated parking spaces are used by eligible residents, while reducing misuse by motorists seeking to avoid public parking charges.

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No tolls, free parking in Abu Dhabi this Friday

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Motorists in Abu Dhabi can use public parking for free and avoid Darb toll charges at four gates on Friday, August 28, for the Prophet Muhammad’s (PBUH) birthday public holiday.

Q Mobility said regular toll and parking charges will resume on Saturday, August 29.

Which toll gates are free?

Darb tolls will be waived on Friday at:

  • Sas Al Nakhl
  • Al Maqta
  • Rabdan
  • Al Saadiyat

However, Al Qurm and Ghantout toll gates will remain chargeable. Both operate 24/7 at AED 4 per crossing.

Mawaqif parking free

Public Mawaqif parking across Abu Dhabi will also be free on August 28.

The exemption does not cover multi-storey public parking buildings, where normal charges will continue.

Regular Mawaqif fees will return on Saturday, August 29.

Q Mobility Centres Closed

Q Mobility Customer Happiness Centres in Abu Dhabi and Al Ain will be closed on Friday and reopen on Monday, August 31.

Motorists can continue using Q Mobility’s digital services 24/7 through its website, the Darb app and TAMM.

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Crackdown on Illegal paying guests: Dubai’s new shared housing law takes effect with fines up to Dh1m

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Dubai’s new legislation governing shared accommodation officially came into effect on August 26. Applying across the entire emirate, including free zones and special development zones, the comprehensive framework is designed to eliminate dangerous, overcrowded, and unauthorised partition rentals while establishing formal licensing standards for communal living.

What qualifies as shared housing?

Under the law, shared housing is defined as any residential property where individuals or families occupy private designated living spaces while sharing common facilities like kitchens, bathrooms, and dining areas.

Who is permitted to rent out shared units?

The new framework strictly bans unauthorised subletting by tenants. A primary tenant can no longer rent out individual bedrooms, partitioned spaces, or bed spaces directly to roommates or third parties.

Only the following entities can legally offer shared housing:

  • Registered Property Owners: Leasing spaces directly to occupants under formal contracts. 
  • Licensed Management Companies: Authorised operators contracted by the owner to run and lease the property. 
  • Licensed Operators Subletting Master Leases: Approved commercial entities leasing an entire property from the owner to sublet authorised units to tenants. 

Penalties for violations

Authorities have introduced strict financial and operational consequences for non-compliance:

  • Initial Fines: Dh500 up to Dh500,000, depending on the severity of the violation.
  • Repeat Violations: Fines double for repeat offences committed within one year, capped at Dh1,000,000.
  • Operational Sanctions: Authorities may suspend operations for up to 6 months, revoke commercial licenses, cancel permits, disconnect utilities, seize equipment, or order the direct evacuation of non-compliant properties.

Grace period & tenant protection

  • Compliance deadline: Existing shared housing operators and property owners have until August 26, 2027, to obtain permits and bring their properties into full compliance. 
  • Protection from sudden eviction: If an operator’s permit is suspended or cancelled, authorities can grant occupants an interim stay period to secure alternative accommodation rather than facing immediate eviction. 

Approved property/resident categories

The regulation permits shared accommodation across six distinct property types:

  • Residential apartments
  • Detached/standalone houses
  • Residential complexes
  • Mixed-use buildings
  • Attached / adjoining houses
  • Multi-storey buildings

Permitted occupant groups include families, single men, single women, university students, government personnel, and private sector corporate employees. Corporate and student housing provided directly by employers or educational institutions does not require individual tenancy contracts.

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