For the first time, a Dubai-based law company will accept cryptocurrency payments from its customers. Ashish Mehta & Associates, Solicitors and Legal Consultants has begun taking its first tentative steps into the digital asset sector this month. The law firm’s clients will be able to pay in digital tokens. Tether USD, Bitcoin, and Ethereum will be the first cryptocurrencies accepted by the law practice. “The world is moving towards digital solutions to stay up with technological innovations,” said Ashish Mehta, the firm’s founder and managing partner. But I’d like to point out that the Dubai and United Arab Emirates governments’ regulatory and compliance frameworks have substantially encouraged our company to accept cryptocurrency payments.”
“I figured that if the government is providing regulatory infrastructure, it would be a good start to hop on board and be the first law firm in Dubai to take cryptocurrency payments.” This is also done by larger local companies that will not be named. We’re all in the same boat when certain commercial enterprises with external shareholders hold or receive payments in crypto,” he continued. The Middle East, according to Chainalysis, is one of the world’s fastest-growing cryptocurrency markets, accounting for 7% of worldwide trade volumes. Cryptocurrency payments are accepted through a partnership with a digital currency company that processes cryptocurrency payments and converts them to Dirhams immediately (AED).