conditions for the grant and maintenance of a License or Registration for the provision of Payment Token Services;
rights and obligations of Customers, Licensed Payment Token Service Providers, Registered Foreign Payment Token Issuers, Registered Foreign Payment Token Custodians and
Transferors and Registered Payment Token Conversion Providers; and
powers of the Central Bank including with regard to the licensing, registration and supervision of Licensed Payment Token Service Providers, Registered Foreign Payment Token Issuers, Registered Foreign Payment Token Custodians and Transferors and Registered Payment Token Conversion Providers, and on-going reporting requirements;
limitations on certain services and the promotion of services relating to Foreign Payment Tokens, and on acceptance of such Foreign Payment Tokens as a Means of Payment; and
a prohibition of the issuance, promotion and performance of certain services in relation to Algorithmic Stablecoins, Privacy Tokens or other Means of Payment which are not Dirham Payment Tokens or Foreign Payment Tokens.
In exercising its powers and functions under this Regulation, the Central Bank has regard to the following objectives:
ensuring the safety, soundness and efficiency of Payment Token Services;
ensuring adequate protection and avoidance of misappropriation of the Reserve of Assets held by Payment Token Issuers;
adoption of effective and risk-based licensing and registration requirements for Licensed Payment Token Service Providers, Registered Foreign Payment Token Issuers, Registered Foreign Payment Token Custodians and Transferors and Registered Payment Token Conversion Providers; and