Dubai-Based Law Firm, School to Start Accepting Crypto Payments
The Founder of the Law Fir explained about the decision,
The world is moving towards digital solutions to keep up with the advanced developments. But I would like to highlight that the regulatory and compliance framework devised by the government of Dubai and the United Arab Emirates (UAE) has greatly encouraged our firm to accept payments in cryptocurrencies. The firm has partnered with a digital currency network that handles cryptocurrency payments and transforms them into dirhams automatically (AED). Mehta further stated that he has always supported and believed in the Dubai government's agenda, which recently saw the formation of the Virtual Asset Regulatory Authority (VARA). Furthermore, the government has established crypto centres.
Mehta said:
"So, obviously this is just the tip of the iceberg. As time goes by, all these regulations will be clear, they will evolve and then there would be a standard regulatory framework, with more details… that I am sure would follow. It will be easier for everybody to follow those rules when the details are announced."
Citizens' School Will Accept Cryptocurrency
As crypto payments become more common in Dubai, Citizens School, a new educational institution, has announced plans to incorporate a digital asset payment option. The institution will accept BTC and ETH when it opens in September. Citizens School hopes to provide students with various payment choices through these plans.