Book traversal links for Article (157): Interpretation of the Technical Terms Referred to in this Decretal Law
Article (157): Interpretation of the Technical Terms Referred to in this Decretal Law
Fed Law 14/2018 Issued on 1/10/20181) 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.
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.