Regulatory Alerts2024-01-01
Consultation Paper No. 11 of 2024 - Proposed Amendments to the Digital Asset Regulatory Framework
The Financial Services Regulatory Authority of the Abu Dhabi Global Market proposes replacing its prior approval process for Virtual Assets with a self-assessment and notification model for regulated firms. The regulator also seeks to recalibrate capital requirements by reducing buffers for Multilateral Trading Facilities and introducing expenditure-based minimums for custody providers. Additionally, the paper outlines proposals to simplify fee structures, introduce product intervention powers, and explicitly prohibit algorithmic stablecoins and privacy tokens within the jurisdiction.
Share