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Article (157): Interpretation of the Technical Terms Referred to in this Decretal Law

Fed Law 14/2018 Issued on 1/10/2018

1) If there is a reference in any legislation in force in the country to the “UAE dirham”, “currency”, “cash”, “money”, or any similar term, this includes digital currency in accordance with the provisions of this decree law unless the context requires otherwise.

2) Virtual assets as defined in the applicable laws in the Country, shall not be considered as Currency according to this decree law. Where virtual assets and currencies are used as a means or tool for payment or exchange, any regulations, rules and controls issued by the Central Bank in this regard shall be followed

3) The Central Bank may issue a glossary interpreting the technical terms referred to in this decretal law. This glossary shall be published on its official website.

This article has been amended by Decretal Federal Law No. (54) of 2023. You are viewing the latest version. To view the previous version, click the version box below.
Version 1(effective from 31/10/2018 to 01/11/2023)

 

The Central Bank may issue a glossary interpreting the technical terms referred to in this decretal law. This glossary shall be published on its official website.