UAE FINANCIAL SERVICES CONSOLIDATION CONTROVERSY

Summary from the TLDR Crypto newsletter

The UAE's Federal-Decree Law No. 6 of 2025 criminalizes unlicensed financial activities with imprisonment and fines up to AED 500 million ($136 million), while Article 62's "facilitation" language extends regulatory reach to technology providers offering infrastructure that enables financial services. Critics argue the law effectively bans self-custodial Bitcoin wallets, blockchain explorers, and similar tools for UAE citizens without Central Bank licensing, as it captures entities "directly or indirectly" facilitating licensed activities even when not offering underlying financial products.