Dubai's Crypto Rules Just Got a Major Upgrade

Chainalysis reported on Twitter that the Dubai Financial Services Authority (DFSA) has significantly revised its crypto token regulations following a consultation launched in January 2024. This update marks a major advancement in the regulatory framework for cryptocurrencies within the Dubai International Financial Center (DIFC). The DFSA has introduced several key amendments aimed at fostering innovation […]

The post Dubai’s Crypto Rules Just Got a Major Upgrade appeared first on Coin Edition.

Dubai's Crypto Rules Just Got a Major Upgrade

  • DFSA updates crypto token regime, allowing investment in both recognized and unrecognized crypto tokens.
  • New regulations cover custody, staking, financial crime compliance, transaction monitoring, and stablecoin criteria.
  • Amendments align with international standards, reflecting IOSCO and Basel Committee guidelines on crypto assets and DeFi.

Chainalysis reported on Twitter that the Dubai Financial Services Authority (DFSA) has significantly revised its crypto token regulations following a consultation launched in January 2024. This update marks a major advancement in the regulatory framework for cryptocurrencies within the Dubai International Financial Center (DIFC).

The DFSA has introduced several key amendments aimed at fostering innovation and enhancing regulatory clarity. One major change authorizes the offering of Units of External and Foreign Funds that invest in recognized crypto tokens. Additionally, Domestic Qualified I…

The post Dubai’s Crypto Rules Just Got a Major Upgrade appeared first on Coin Edition.