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Archive of Legal and Regulatory Updates:

2021-11-20 – UAE:
New Companies Law (Federal Decree-Law No. 32/2021) published; effective from 2022-01-02.

2021-10-25 – UAE (DIFC):
DFSA launches regime for Investment Tokens (first phase of digital assets in DIFC).

2021-07-02 – Malaysia:
BNM reports receiving 29 applications for digital bank licenses (maximum five licenses to be issued).

2021-06-17 – Mongolia:
FRC approves regulations for “green” bonds (part of updated debt instrument registration rules).

2021-04-28 – Malaysia:
SC publishes updated Malaysian Code on Corporate Governance (MCCG 2021); applies immediately (first reports for FY ending 2021-12-31).

2021-03-09 – Mongolia:
Amendments to the Banking Law: systemically important banks required to become public JSCs; IPO/restructuring deadlines set by the regulator.

2021-02-11 – UAE (ADGM):
Data Protection Regulations 2021 adopted; transitional periods of 6 and 12 months apply.

2021-01-01 – Russia:
Law No. 259-FZ on Digital Financial Assets and Digital Currency enters into force (prohibits payments for goods and services in cryptocurrency, among other rules).

2021-07-01 – Russia:
“Landing Law” No. 236-FZ: major foreign online platforms required to establish local presence in Russia (effective from 2022-01-01).

2021-04-15 – U.S. (re Russia):
E.O. 14024 introduces a new sanctions framework; Directive 1 restricts U.S. financial institutions from participating in Russia’s primary sovereign debt market.

2020-08-28 – UAE:
Cabinet Resolution No. 58/2020 (UBO): mandates maintaining registers of ultimate beneficial owners and filing notifications.

2020-08-10 – UAE:
Cabinet Resolution No. 57/2020 (ESR): updated Economic Substance Requirements replacing the 2019 regime.