UAE's new regulations may ban crypto payments, warns crypto and blockchain lawyer Irina Heaver. The Central Bank of UAE recently approved the issuance of payment token services regulations, suggesting that payment tokens must be backed by UAE dirhams and not linked to other currencies. Heaver believes this could contradict the country's pro-commerce stance and impact foreign investment. She also expressed concerns about the potential hindrance to the use of stablecoins in transactions, which could affect the UAE's progress in the digital economy. Heaver called for stronger industry representation to counter policies that may hamper the growth of Web3 and crypto in the UAE.