UAE CMA Unveils Comprehensive Virtual Assets Framework to Strengthen Federal Oversight and Investor Protection
The UAE’s CMA announced the Virtual Assets Framework on 13 April 2026, establishing a comprehensive federal regime for virtual asset activities. Announced by CEO Waleed Saeed Al Awadhi, the Framework positions virtual assets as a core part of evolving financial markets while introducing a structured, investor-protective environment. It builds on Decision No. 4/R.M/2026 and consolidates federal oversight, operating alongside emirate-level regimes such as VARA (Dubai) and FSRA (ADGM).
Key Takeaways:
- The Virtual Assets Framework is structured across five core modules: General Requirements; Conduct of Business; Alternative Trading System (ATS); Anti-Money Laundering/Counter-Terrorist Financing; and Prudential Requirements.
- The Framework expands regulated activities from three to eight, including custody, investment advice, portfolio management, and operating trading facilities.
- A dedicated ATS module governs trading platforms for both virtual assets and tokenised securities, reflecting convergence with traditional capital markets.
- The Framework aligns with IOSCO and FATF standards under a “same activity, same risk, same outcome” principle.
- CMA jurisdiction applies across mainland UAE (excluding DIFC and ADGM), requiring firms to manage potential dual compliance.
- Transitional arrangements apply, but firms should prepare for significant compliance upgrades.
UAE Ministry of Finance amends Tax Procedures Executive Regulations effective 1 April 2026
The UAE Ministry of Finance introduced amendments to the Tax Procedures Executive Regulations, effective 1 April 2026, under the updated Tax Procedures Law (Federal Decree-Law No. 17 of 2025). The changes aim to enhance transparency, improve compliance processes, and strengthen taxpayer protections as part of broader tax system reforms across VAT, Corporate Tax, and Excise Tax.
Key Takeaways:
- Voluntary disclosure procedures are clarified, reducing uncertainty when correcting past errors.
- Refund rules now apply to any taxpayer credit balance, ensuring consistency across tax regimes.
- Record retention is extended by two years where refund claims remain under review.
- Disclosure rules are updated while reinforcing data confidentiality protections.
- The five-year limitation period for VAT input credit/refunds applies, requiring review of legacy claims.
UAE launches e-Invoicing 4-Corner Model 21 April 2026
On 21 April 2026, the UAE launched its e-Invoicing 4-Corner exchange model, marking a key step toward a mandatory national e-invoicing regime. Developed by the Ministry of Finance and FTA, the system enables early adoption ahead of a phased rollout beginning July 2026 and will ultimately apply to all B2B and B2G transactions.
Key Takeaways:
- E-invoices must be issued in structured XML (PINT-AE) via Accredited Service Providers (ASPs); PDFs and paper are invalid.
- Implementation is phased: pilot (July 2026), large businesses (Jan 2027), smaller businesses (July 2027), government (Oct 2027).
- Early adoption allows testing and avoids penalties during the voluntary phase.
- Non-compliance fines can reach AED 5,000 per month per violation.
- Mandatory data fields and five-year storage requirements apply; intra-group transactions are included.
- Businesses should assess ERP readiness and plan ASP integration, especially those above AED 50 million revenue.
UAE Ministry of Economy amends PJSC share transfer restrictions Ministerial Decision No. (83) of 2026
The UAE Ministry of Economy issued Ministerial Decision No. (83) of 2026, amending the share transfer restriction period for Private Joint Stock Companies (PJSCs). The update aligns with broader reforms under the Commercial Companies Law and is particularly relevant for companies utilising newer PJSC features such as private placements and multi-class shares.
Key Takeaways:
- A two-year restriction period applies from incorporation or capital increase.
- Exemptions apply to transfers such as inheritance, court orders, or intra-group transactions.
- The changes support reforms including private placements and multi-class shares.
- Companies should review constitutional documents and shareholder agreements accordingly.
- The Decision provides clarity for transaction structuring and investor lock-ups.
