How to Best Regulate Crypto-Assets? The EU and UAE Perspectives

Faced with the rapid rise of crypto-assets, governments have responded in markedly different ways – ranging from condemnation – to indifference to the establishment of regulatory frameworks. In this context, the European Union and the United Arab Emirates quickly positioned themselves by proposing comprehensive regulations aimed at strengthening their attractiveness while ensuring adequate protection for investors. Comparing these two models – each shaped by its own institutional structure, yet sharing undeniable common features – offers valuable insights. It also raises broader questions about the challenges involved in choosing a regulatory approach.

To conduct this comparison, the book examines the institutional models of the United Arab Emirates and the European Union, the regulatory frameworks applicable to central bank digital currencies (CBDCs) and to crypto-assets (including the taxonomy, the dedicated framework for stablecoins, and the status and obligations of intermediaries), as well as the relevant rules on applicable law and taxation.

How to Best Regulate Crypto-assets? The EU and UAE Perspectives is intended in particular for professionals working in the rapidly evolving fi eld of crypto-asset law who wish to acquire or deepen their understanding of the regulatory frameworks in the European Union and the United Arab Emirates.

This book is the result of the publication of the proceedings of the international symposium held on 20 February 2025 at Sorbonne University Abu Dhabi, under the scientific direction of Pauline Pailler (Professor of Law, Paris Cité University), with valuable contributions from André Abou Aad (Lawyer), Maria Luisa Babo Rodrigues (Regulatory Affairs Manager for VARA), Ruben Bombardi (Head of Regulatory Enablement and General Counsel for VARA), Thierry Bonneau (Professor of Law, Paris-Panthéon-Assas University), Hubert de Vauplane (Partner, Morgan Lewis), Pablo Guédon (Associate Professor, Clermont-Auvergne University), Jack Hardman (Partner, Clifford Chance), Dominique Legeais (Professor of Law, Paris Cité University), Matthias Lehmann (Professor of Law, University of Vienna and Radboud University Nijmegen), Ryan Lemand (Founder and CEO of Neovision Wealth Management), Nicholas McNicholas (Head of Regulatory Affairs and Enforcement for VARA), Diego Montes Serralde (Regulatory Enablement and Legal Manager for VARA), Edmond O’Hanlon (Legal Counsel, FSRA), Philippe Richard (Executive Director, International Affairs, FSRA) and Clément Saudo (Director of the Financial Market and Crypto-Assets Services Division, Legal Affairs Department, AMF France).