All Payment Tokens issued by a Dirham Payment Token Issuer shall be denominated only in Dirham.
2.
All Payment Tokens issued by a Foreign Payment Token Issuer shall be denominated only in a Foreign Currency.
3.
A Payment Token Issuer may not (and may not arrange that another person shall) pay to or for the benefit of a Customer:
a)
interest related to the length of time during which the Customer holds a Payment Token; or
b)
any other benefit related to the length of time during which the Customer holds a Payment Token,
with respect to Payment Tokens for which the Payment Token Issuer performs Payment Token Issuing.
4.
The Central Bank may place a limit(s) on:
a)
the total volume or value of Payment Tokens which a Dirham Payment Token Issuer may sell or transfer, or restrict the sale or transfer of further Payment Tokens by that Payment Token Issuer;
b)
the total volume or value of Payment Tokens which a Foreign Payment Token Issuer may sell or transfer to Persons in the UAE, or restrict the sale or transfer of further Payment Tokens by that Payment Token Issuer to Persons in the UAE;
c)
the total number of Customers, or restrict the onboarding of new Customers, to which a Dirham Payment Token Issuer may sell or transfer its Payment Tokens;
d)
the total number of Customers in the UAE, or restrict the on-boarding of new Customers in the UAE, to which a Foreign Payment Token Issuer may sell or transfer its Payment Tokens;
e)
the total volume or value of Payment Tokens which a Payment Token Conversion Provider may buy, sell or admit to trading on its platform; and
f)
the total number of Customers to which a Payment Token Conversion Provider or Payment Token Custodian and Transferor may provide services, or the on-boarding of new Customers by that Payment Token Conversion Provider or Payment Token Custodian and Transferor.
5.
If the Central Bank determines that to do so is necessary to achieve its statutory objectives, the Central Bank may impose any other restrictions on a specific Licensee or Registree, or across Licensees and Registrees.
6.
If the Central Bank determines that to do so is necessary to achieve its statutory objectives, the Central Bank may designate any Virtual Asset to be a Payment Token whether or not it is sold or transferred by a Payment Token Issuer, and may impose any one or more of the restrictions set out in Article (12)4 in relation to such Designated Payment Token.
7.
If the Central Bank imposes any restriction set out in Article (12)4, the Licensed Payment Token Service Provider, Registered Foreign Payment Token Issuer, Registered Foreign Payment Token Custodian and Transferor or Registered Payment Token Conversion Provider must:
a)
provide the Central Bank with daily reporting evidence verifying its compliance with such restriction(s); and
b)
maintain policies and procedures to ensure that any breach of such a restriction is rectified promptly.