The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Bermuda Monetary Authority (BMA) have officially established a joint Digital Assets Memorandum of Understanding (MoU). This collaboration aims to streamline the oversight and management of digital asset entities within both jurisdictions. The MoU emphasizes regulatory cooperation, investigative assistance, and initiatives to enhance operational capabilities. Craig Swan, Chief Executive Officer of the BMA, expressed that the agreement signifies a significant advancement in strengthening regulatory relationships, promoting innovation, and enhancing resources through global partnerships. The partnership leverages the expertise and stability of the respective markets to cater to the evolving requirements of the digital asset industry, fostering knowledge sharing and robust regulatory compliance. Emmanuel Givanakis, CEO of the FSRA of ADGM, highlighted the MoU's importance in fostering cooperation and information exchange between the two regulatory bodies. Both ADGM FSRA and BMA are committed to encouraging responsible innovation in the digital asset sector, seeking to facilitate the establishment and effective supervision of digital asset enterprises. The collaboration aims to harmonize regulations, uphold integrity, ensure efficiency, and promote sustainable growth within the industry. Bermuda has emerged as a key center for digital assets due to its progressive regulatory environment and dedication to promoting innovation in fintech and blockchain industries. The BMA introduced the Digital Asset Business Act (DABA) in 2018, setting forth comprehensive regulations to provide clarity and support for digital asset businesses. The legislation aims to create a secure regulatory framework that fosters innovation while safeguarding market integrity and investor interests. Additionally, the MoU extends cooperation to areas such as joint publications, supervisory groups, and training programs to enhance regulatory harmonization and industry knowledge exchange.
Collaborative Agreement between Financial Regulatory Authorities in Abu Dhabi and Bermuda for Digital Assets Supervision

by Giorgi Kostiuk
a year ago

Other news
Hyperliquid Introduces Direct Native USDC Deposits

Hyperliquid exchange has launched direct native USDC deposits, enhancing user experience in decentralized finance.

Market Insights on Binance's Regulatory Realignment

Market analysis indicates that Binance's integration under ADGM's regulatory framework could enhance market confidence and attract institutional investments.

Binance to Transition Operations to ADGM-Licensed Entities

Binance will transition its operations to three ADGM-licensed entities effective January 5, 2026, to standardize operations globally and enhance regulatory clarity.

USPD Protocol Compromised in Major Security Breach

USPD Protocol compromised in a major security breach due to a CPIMP attack, resulting in the minting of 98 million USPD tokens and the theft of 232 stETH.

Twenty One Capital Executes $39B Bitcoin Transfer, Signaling Institutional Confidence

Twenty One Capital has executed a massive Bitcoin transfer of 43,122 BTC, valued at approximately $3.94 billion, signaling deep institutional confidence in Bitcoin's long-term value.

Yearn Finance yETH Vault Exploit Results in 9 Million Loss

Yearn Finance's yETH vault was exploited, leading to a loss of 9 million.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter