UAE: School, law firm to accept cryptocurrencies for fee payments

UAE: School, law firm to accept cryptocurrencies for fee payments

In a first, a Dubai-based law firm will now be accepting payments in cryptocurrencies from its clients.

This month onwards, Ashish Mehta & Associates, Solicitors and Legal Consultants have started taking its nascent steps into the digital-asset universe.

Clients of the law firm will be able to pay in digital tokens. The law firm will initially accept cryptocurrencies including Tether USD, Bitcoin and Ethereum.

Ashish Mehta, founder and managing partner of the firms 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.”

“I thought if the government is providing regulatory framework infrastructure, it would be a good start to jump on to the bandwagon and be the first law firm in Dubai to accept payments in crypto. Larger local companies without naming are doing this as well. When certain commercial enterprises with external shareholders are also holding or receiving payments in crypto, so in a similar way, we are all sailing in the same boat,” he added.

According to Chainalysis, the Middle East is one