The United Arab Emirates is studying various approaches to regulating the ICO. One of them is to equate tokens with securities.
The Securities and Commodities Authority of the United Arab Emirates (SCA) studied the market of crypto and ICO, the approach of various countries to their regulation and prepared a set of rules and mechanisms for cryptomarket. Sultan Bin Said Al Mansouri, Chairman of the Board, said that the token and the initial offer of coins will be regulated in accordance with the current securities laws. This will be the first step on the road to modernization and
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https://coinatory.com/2018/09/13/ico-tokens-can-be-recognized-as-securities-in-uae/