Abu Dhabi Global Market Regulatory Arm Unveils Document Proposing Changes to ...
The Financial Services Regulatory Authority (FSRA), a regulator in the United Arab Emirates (UAE)’s financial center and free zone, the Abu Dhabi Global Market (ADGM), has released a consultation paper that proposes amendments to regulations that govern the use of virtual assets. Regulator Seeks to Amend Requirements for Public Keys A regulator in the Abu Dhabi Global Market (ADGM) — a financial centre and free zone located in the UAE — has unveiled a consultation paper proposing amendments to the regulatory framework that governs the use of virtual assets. The paper....
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Abu Dhabi Global Market’s financial regulator, the Financial Services Regulatory Authority (FSRA), recently unveiled six principles that will guide its “approach to virtual asset regulation and supervision.” Though not legally binding, the principles, according to the FSRA, must be “viewed as a complement to the comprehensive detail of our published framework.”
A ‘Basis for Regulatory Cohesion Across Jurisdictions’
Abu Dhabi Global Market (ADGM), a financial center and global free zone based in the United Arab Emirates (UAE),....
The emirate’s special economic zone might grant licensed exchanges the right to trade nonfungible tokens. Abu Dhabi Global Market (ADGM), the emirate’s free zone, published a consultation paper on March 21 titled “Proposals for enhancements to capital markets and virtual assets in ADGM.” The document contains draft guidelines that, among other asset classes, cover nonfungible token (NFT) trading. The paper proposes that companies with a license from the free zone’s financial regulator be allowed to facilitate NFT trading.Along with sections dedicated to traditional financial instruments,....
The in-principle approval from the Abu Dhabi Global Market allows Binance to operate as a broker-dealer in digital assets including cryptocurrencies. Binance, the world’s biggest crypto exchange in terms of trading volume, received in-principle approval to operate in Abu Dhabi, marking its third regulatory approval in the Middle Eastern region after Bahrain and Dubai. The in-principle approval from the Abu Dhabi Global Market (ADGM) allows Binance to operate as a broker-dealer in digital assets including cryptocurrencies — marking yet another milestone for the crypto exchange, which....
ABU DHABI, United Arab Emirates — The Bitcoin Conference Abu Dhabi organizers hope to make the UAE a center for fintech, Bitcoin and blockchain innovation in the Middle East with its upcoming conference in Abu Dhabi on December 8, 2016. In a press release, conference organizers noted that government agencies and businesses have expressed early interest in fintech, with over 30 firms and organizations starting work on fintech proof-of-concepts in 2016. Furthermore, financial authority Abu Dhabi Global Market released a consultation paper in 2016 outlining plans to “create a sandbox....
The independent regulatory authority of Abu Dhabi's newest financial free zone is seeking to promote the development of blockchain startups as part of a drive to create new efficiencies in the regional financial sector. The Financial Services Regulatory Authority (FSRA), one of three divisions of the Abu Dhabi Global Market (ADGM), has released a consultation paper in which it detailed its plans to create a sandbox environment for FinTech under which startups would be allowed to work under a flexible regulatory framework for up to two years. The FSRA's proposal would seek to limit startups....