Dubai: Virtual Asset Regulatory Authority Signs Cooperation Agreement with the Department of Economy and Tourism

Gulf News, 17 August 2023: Dubai’s Virtual Asset Regulatory Authority has signed a cooperation agreement with the Emirate’s Economy and Tourism Department.

The agreement outlines a framework for cooperation to deliver effective and synchronised virtual asset market assurance across the Emirate. This encompasses customer care and complaints, business on-site inspection and enforcement; business Virtual Asset Service Provider registration and licensing, education, training and knowledge sharing.

Under the agreement, the Department will add the Authority’s activities to its system for all virtual asset license issuing. The Department will be responsible for inspections and supporting the Authority with in situ enforcement. This will include imposing penalties such as suspensions or revocations in cases of proven negligence or non-compliance with the Authority’s rules.

It can also handle business as usual application renewals for virtual asset service providers who meet Authority requirements in full.

The Authority will be included in the Department’s e-permit system, which will enable one-touch point approvals on virtual asset events. Elsewhere the Dubai Corporation for Consumers Protections & Fair Trade Department within the Economy and Tourism Department will be upgraded with specialist virtual asset know-how, which will support the provision of a transparent and seamless customer experience.

The two entities will also cooperate on campaigns to raise consumer protection awareness about virtual assets. This will include providing consumer protection information and advice. The Department will also publish relevant notices and warnings, including penalty notices and consumer protection advisories on its websites.

The agreement has been signed following the issuing of new guidelines, which require entities qualifying for a regulated Full Market Product license to transition to an Authority-regulated regime by 31 August.

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Dubai: DIFC issues First of its Kind Data Protection Adequacy Decision

The DIFC Commissioner of Data Protection has issued a first-of-its-kind adequacy decision on the California Consumer Privacy Act 2018.

The California Consumer Privacy Act 2018 was amended by the California Privacy Rights Act 2020 which came into force on 1 January 2023. The adequacy decision establishes a determination of the amended law’s equivalence to the DIFC Data Protection Law, DIFC Law No. 5/2020.

It facilitates personal data transfers between DIFC and California-based entities in accordance with DIFC Law No. 5/2020, without having to apply additional contractual measures. It also sets a first-time precedent for building similar relationships with various other US states.

The California Privacy Protection Agency (CPPA) has been recognised as an international organisation ensuring adequate data protection for purposes of personal data processed and transferred by the entities that it supervises.

The amended law provides consumers control and protection over personal data collected by businesses with built-in methods for confining data collection and processing what is fair and lawful, and necessary, in adherence with global data protection standards as well as the Commissioner’s objectives in administering DIFC Law No. 5/2020.

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Dubai: New Fine System Speeds Lifting of Travel Bans

Khaleej Times, 8 August 2023: The Dubai Public Prosecution has introduced a smart fine payment service, which will enable individuals convicted in criminal cases to pay their fines electronically and have travel restrictions automatically revoked.

The smart service allows payment related to criminal judgments, in which fines have been issued as judgments in presence, absenteeism, and legal presence. The service covers all stages of litigation, including the primary, appeal, and cassation. After the fine payment, the smart service coordinates with the Dubai Police to cancel arrest warrants and halt searches for the individual.

The smart payment service for fines is a proactive digital service that has been added to the package of prosecution services that are in line with the 360 ​​services policy. It reduces the need to personally visit the Public Prosecution headquarters to announce a default judgement and pay fines.

Individuals will be able to make these payments in three ways.

By the first, they will be able to click on an attached link in the text message sent by the Public Prosecution. After clicking on the link, they are redirected to a page where they can login using a digital ID and then pay the fine electronically.

Fines can also be settled through payment machines for an electronic payment process or at cash payment machines. These machines accept banknotes of all denominations until the fine is fully paid. Alternatively, fines can be paid electronically using cards.

Finally, fines can also be paid on the Public Prosecution website, where the customer logs in by using the digital ID, and pays the fine electronically.

The individual then receives a text message from the Public Prosecution confirming the completion of the payment process. The message also indicates the cancellation of the arrest warrant and that the search for the individual has been stopped.

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