- Dubai-based law firm plans on accepting payments in digital assets comprising BTC, ETH, and USDT.
- The world is moving towards digital solutions to keep up with the advanced developments, highlights the founder Ashish Mehta.
- A school that is yet to open has also highlighted that it would integrate a digital asset payment option.
A law firm based in Dubai, Ashish Mehta & Associates, has recently announced its plans to accept payments through cryptocurrencies. And via this move, the clients of the law firm will be able to pay for services in digital assets comprising Bitcoin (BTC), Ether (ETH), and Tether (USDT).
According to Ashish Mehta, the founder and Managing Partner of Ashish Mehta & Associates, the world is moving toward digital solutions to keep up with the advances in developments. But he would like to highlight that the compliance and regulatory framework devised by the government of Dubai and the United Arab Emirates (UAE) has highly encouraged their firm to accept payments in cryptocurrencies.
And that the government enabling a regulatory framework has also encouraged other prominent local companies to welcome crypto.
Ashish Mehta & Associates collaborated with a digital currency platform that processes crypto payments and automatically converts them into dirhams (AED).
The founder further signified that he has always believed in and followed the vision of the Dubai government, which recently saw it form the Virtual Asset Regulatory Authority (VARA). And the government has also created crypto centers.
He also highlighted that this is just the tip of the iceberg. As time goes by, all these regulations will be clear, and they will emerge, and then there will be a standard regulatory framework, with more details, And he is sure would follow. It will be easier for everybody to follow those rules when the details are specified.
Crypto To Expand To Educational Institution
At a time when Dubai is witnessing widespread crypto payments, Citizens school, an upcoming educational institution, has also highlighted its plans to roll out a digital asset payment option. The school is set to open in September and would accept the two leading crypto assets, BTC and ETH. The school focuses on providing the students with flexible payment options.
According to the school’s founder, Dr. Adil Alzarooni, cryptocurrency was only a popular term among well-versed investors a while ago. But today, cryptocurrency is becoming much more mainstream, reshaping the conventional financial system.
The middle east is constantly showing its support for digital assets at a fast pace. Many exchanges like Binance are getting approval to operate in Bahrain, Abu Dhabi, etc.
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