Virtual Assets Law in Dubai & Fundamentals of Cryptocurrency, DeFi, CeFi

Law No. 4 of 2022/ Dubai Virtual Asset Law (DVAL)

Course description:

This session will cover key features of law No.4 of 2022 to position Dubai and the UAE as a regional and global destinations for the virtual assets sector. It will also provide details on licensing requirements, the scope of activities, penalties, and sanctions. Additionally, it will provide an overview of the regulatory structure of the Dubai Virtual Assets Regulatory Authority, its approach to regulation, and the impact that this new law will have on the financial services industry.

Learning objectives:

• Discuss key features of the new law, scope of activities, penalties, and sanctions
• Determine various types of virtual assets which are regulated by the new law, including, but not limited to, cryptocurrencies, tokens, digital securities, and derivatives
• Identify the requirements for companies to become licensed and registered, as well as the requirements for compliance with
the new law
• Assess the potential implications of the law and offer insights into the challenges and opportunities that may arise due to its implementation

Fundamentals of Cryptocurrency, DeFi, and CeFi

Cryptocurrency is digital money that uses cryptography to secure its transactions. This session explores how cryptocurrency works, identify different types of existing currencies from fiat to digital money, and covers the fundamentals of centralised finance (CeFi) and decentralised finance (DeFi).

Learning objectives:

• Identify various types of existing currencies: fiat currency, digital currency, crypto tokens, and stablecoins
• Discuss how Centralised finance (CeFi) system works and the transactions that take place
• Compare Decentralised Finance (DeFi) from CeFi and identify pros and cons of each system
• Explore the potential regulatory and legal implications of both systems