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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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Travelling to Oman? Sharjah introduces new bus departure times

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Travellers heading from the UAE to Oman now have more flexibility, with the Sharjah Roads and Transport Authority (SRTA) announcing revised schedules for its popular intercity bus service connecting Sharjah with Sohar and Muscat.

The updated timings apply to Intercity Bus Route 203, which departs from Al Jubail Bus Station in Sharjah and serves passengers travelling to Oman’s two major cities. The changes are aimed at improving convenience, enhancing cross-border mobility, and providing more travel options for residents and visitors.

New Sharjah to Muscat bus timings

Passengers travelling from Sharjah can now choose from three daily departures:

  • 6:30am
  • 3:30pm
  • 8:30pm

Oman to Sharjah bus timings

For travellers returning from Oman, buses departing from Sohar and Muscat will operate at:

  • 7:00am
  • 1:30pm
  • 3:00pm

More travel options between UAE and Oman

SRTA said the revised schedule is part of ongoing efforts to strengthen regional transport connectivity and offer a comfortable, safe and efficient travel experience between the UAE and Oman.

Passengers are advised to check the latest updates through SRTA’s official channels before travelling and to arrive at the station early to ensure a smooth journey.

Route: Intercity Bus 203
Departure Point: Al Jubail Bus Station, Sharjah
Destinations: Sohar and Muscat, Oman
New Timings Effective: Immediately

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Sharjah-Dubai commuters face new diversion as Al Taawun Street closes

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Motorists travelling between Sharjah and Dubai will face new traffic diversions from Saturday, June 13, as the Sharjah Roads and Transport Authority (SRTA) begins a temporary partial closure of Al Taawun Street.

The closure is part of ongoing construction works for the Al Taawun Tunnel Development Project, which aims to improve traffic flow and enhance the efficiency of Sharjah’s road network.

Under the revised traffic plan, vehicles heading towards Dubai and Al Nahda Bridge will be diverted via Al Corniche Street.

Meanwhile, motorists travelling from Al Nahda Bridge towards Sharjah will be redirected to the newly developed section of Al Taawun Street.

SRTA said the temporary arrangements are necessary to facilitate works at the existing Al Taawun roundabout and will come into effect from June 13.

The authority urged motorists to follow directional signs, use approved alternative routes and adhere to traffic safety instructions to help minimise delays during the construction period.

The Al Taawun Tunnel Development Project forms part of Sharjah’s wider infrastructure programme aimed at easing congestion and improving mobility across the emirate.

What changes from June 13?

Towards Dubai / Al Nahda Bridge

  • Use Al Corniche Street as the alternative route

From Al Nahda Bridge to Sharjah

  • Follow diversions to the newly developed Al Taawun Street


Start date: June 13

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Dubai road tragedy: Indian Consulate mourns victims as Dh1 million support announced

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The Indian Consulate in Dubai has expressed deep sorrow after a fatal road accident on Emirates Road claimed the lives of seven workers, including six Indian nationals and a Sri Lankan citizen, while leaving nine others injured.

Consular officials visited the injured in the hospital and said they are working closely with local authorities to provide assistance to victims and their families. “Our heartfelt condolences and prayers are with the grieving families during this difficult time,” the mission said in a statement.

Dh1 million relief announced for victims

Meanwhile, Dr Shamsheer Vayalil, Abu Dhabi-based entrepreneur, philanthropist, and Chairman and CEO of Burjeel Holdings, has announced a Dh1 million humanitarian recovery programme to support families affected by the fatal Emirates Road crash in Dubai.

The families of each of the seven deceased victims will receive Dh100,000, while Dh180,000 has been allocated to support the medical and recovery needs of the injured survivors.

The package also includes Dh70,000 to cover emergency travel and accommodation expenses for family members and Dh50,000 dedicated to supporting the education of children from the affected families.

What caused the crash?

According to Dubai Police, preliminary investigations indicate the truck had come to a sudden stop on Emirates Road following a technical malfunction.

Authorities said the minibus driver failed to maintain a safe distance and was unable to avoid the stranded vehicle, resulting in a high-impact rear-end collision.

The workers, all employed by a technical services company, were returning to their accommodation in Sharjah after completing work at a construction site in Dubai when the minibus they were travelling in collided with the truck in the middle of Emirates Road near the Dubai-Sharjah border.

Company sources said the minibus was carrying 17 people, including the driver. The seven workers who died were seated on the right side of the vehicle, which absorbed the full force of the impact.

Of the nine injured, five have since been discharged from the hospital, while four remain under medical care, including three Indian nationals and one Nepali worker.

Identification process underway

Authorities are continuing efforts to formally identify all victims, with company sources saying the process has been complicated by the severity of the injuries sustained in the crash.

Dubai Police warning

Following the accident, Dubai Police renewed warnings about the dangers of leaving broken-down vehicles in the middle of the road.

Motorists experiencing a breakdown are urged to:

  • Activate hazard warning lights immediately
  • Place a warning triangle at a safe distance
  • Move passengers away from the vehicle
  • Contact the police without delay

Police noted that stopping a vehicle on the roadway due to a breakdown, tyre failure, or fuel shortage is a traffic offence under UAE law, carrying a Dh1,000 fine and six black points.


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