Circle Secures ADGM License as UAE Expands Crypto Rules
Circle has obtained regulatory approval in Abu Dhabi, allowing the company to operate as a licensed Money Services Provider as the United Arab Emirates advances its cryptocurrency oversight.
In a Tuesday announcement, Circle Internet Group said it received a Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi. The authorization permits Circle to conduct activities as a Money Services Provider within the IFC.
The USDC (USDC) issuer also named Saeeda Jaffar as managing director for Circle Middle East and Africa. Jaffar, who is also a senior vice president and group country manager for the Gulf Operation Council at Visa, will lead regional strategy and partnerships according to a post on the company’s Twitter account.
Circle co-founder, chairman and CEO Jeremy Allaire said the ADGM framework establishes rigorous standards for transparency, risk management and consumer protection, adding that such requirements are necessary if trusted stablecoins are to support payments and financial services at scale.
ADGM issues multiple crypto licenses
ADGM has recently granted licenses to several digital asset firms. Earlier this week, Tether’s USDt (USDT), the largest stablecoin by circulation and a primary competitor to Circle, achieved a regulatory milestone in the financial center. Ripple’s dollar-pegged token, Ripple USD, secured approval at the end of November.
On Monday, crypto exchange Binance received three separate licenses from Abu Dhabi’s regulator, enabling exchange, clearing house and broker-dealer operations. This followed Bybit obtaining regulatory clearance in the UAE in early October.
UAE advances crypto regulation
The Central Bank of the UAE has been updating its approach to digital assets. In November, authorities introduced rules for decentralized finance (DeFi) and the broader Web3 sector.
Federal Decree Law No. 6 of 2025 brings DeFi platforms, related services and infrastructure providers under regulatory oversight if they facilitate payments, exchange, lending, custody or investment services, with licensing now required. Local crypto lawyer Irina Heaver said projects can no longer avoid oversight by asserting they are “just code.”
In October 2024, the UAE exempted cryptocurrency transfers and conversions from value-added tax, one month after Dubai’s digital asset regulator announced stricter requirements for crypto marketing. Around the same time, the Ras Al Khaimah Digital Assets Oasis free zone was working on a legal framework for decentralized autonomous organizations.
Enforcement has also increased, with Dubai’s Virtual Assets Regulatory Authority acting against seven unlicensed crypto businesses, issuing fines and cease-and-desist orders.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
