🚀🌐 UAE's new crypto regulations might just have put a damper on our blockchain party, folks! The Central Bank of UAE has approved regulations that could effectively ban crypto payments. The rules state that payment tokens must be backed by UAE dirhams and not tied to other currencies. 🙅‍♂️💸

Crypto lawyer Irina Heaver is concerned this could stifle progress in the Web3 and crypto sectors, and potentially impact foreign investment. She also points out the lack of strong industry associations in the UAE to challenge these policies. 🤔💼

But hey, we're optimists here! Let's discuss - what do you think these regulations mean for the future of DeFi and Web 3 in the UAE? Drop your thoughts below! 👇🎙️ #DeFi #Web3 #CryptoRegulation