Ashish Mehta & Associates, Solicitors and Legal Consultants, a Dubai-based law firm, has announced plans to start accepting crypto for payments. Through this integration, the law firm’s clients will be able to pay for services in digital currencies, including Tether (USDT), Bitcoin (BTC), and Ether (ETH).
Explaining why the law firm decided to take this forward-looking move, Ashish Mehta, the founder and Managing Partner of Ashish Mehta & Associates, said,
The world is moving towards digital solutions to keep up with the advanced developments. But I would like to highlight that the regulatory and compliance framework devised by the government of Dubai and the United Arab Emirates (UAE) has greatly encouraged our firm to accept payments in cryptocurrencies.
He added that the government providing a regulatory framework has also encouraged other leading local companies to embrace crypto. However, Mehta did not provide their names.
Ashish Mehta & Associates teamed up with a digital currency platform, which processes crypto payments and automatically converts them into dirhams (AED).
Mehta further noted 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). Additionally, the government has also created crypto centers.
With this in mind, Mehta said:
So, obviously this is just the tip of the iceberg. As time goes by, all these regulations will be clear they will evolve and then there would be a standard regulatory framework, with more details… that I am sure would follow. It will be easier for everybody to follow those rules when the details are announced.
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