New ‘crypto token regime’ instituted at the Dubai International Financial Centre
The emirate’s free trade zone has its own legal system and courts. Now its crypto regulations have been augmented and extended to all tokens recognized in the zone. The Dubai Financial Services Authority (DFSA) announced on Nov. 1 that its crypto token regime has come into force in the Dubai International Financial Centre (DIFC) special economic zone, with a six-month transition period. The new regime is the DFSA’s second round of regulations, building on the “Regulation of Investment Tokens” introduced at the DIFC in October 2021.The #DFSA has issued regulations on #CryptoTokens for....
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The Dubai Financial Services Authority (DFSA) has unveiled its plans to create a regulatory framework for cryptocurrencies. The announcement was part of its 2021-2022 business agenda released this week. The Papers Will Be Released in the First Half of 2021 According to the watchdog, which regulates the Dubai International Financial Centre (DIFC), the upcoming crypto framework aims to expand on the existing rules. It includes the regulation of crypto issuers and trading platforms. The document, signed by DFSA Chairman Saeb Eigner, reads: We will build upon recent achievements in this space....
The regulatory arm of the United Arab Emirates (UAE)’s special economic zone, the Dubai International Financial Centre (DIFC), has unveiled a consultation paper outlining its proposed regulatory regime for crypto tokens.
Changes to the Draft Legislation
The Dubai Financial Services Authority (DFSA), the financial regulatory agency of UAE’s special economic zone, the Dubai International Financial Centre (DIFC), has released a consultation paper proposing a regulatory regime for crypto tokens.
The DFSA said the public has until May 6, 2022, to comment on....
The Sheikh said the regulator will have authority in Dubai's special development zones and free zones with the exception of the Dubai International Financial Centre. Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai in the United Arab Emirates who holds several positions including prime minister, has announced a new law on virtual assets as well as the establishment of a crypto regulator.In a Wednesday announcement, Sheikh Al Maktoum said he had issued a law creating a legal framework for crypto in the Emirate of Dubai aimed at protecting investors and “designing much-warranted....
The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World Trade Centre to Host and Regulate Crypto Space Authorities in the United Arab Emirates plan to establish a special zone at the Dubai World Trade Centre (DWTC) from which businesses dealing with digital assets will be able to offer their products and services. The government of Dubai announced that the DWTC will also play the role....
The Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for virtual assets and crypto, comprising digital assets, goods, operators, and exchanges, as part of the Dubai government’s efforts to build new economic sectors. Dubai Likes Crypto The United Arab Emirates (UAE) is becoming one of the world’s most cryptocurrency-friendly jurisdiction, with the Dubai government announcing a new program to assist local cryptocurrency development and regulation. The Dubai World Trade Centre (DWTC), a government-owned event and exposition facility in Dubai, said on Dec.....