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Draft Changes in Virtual Asset Regulation in Abu Dhabi

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by Giorgi Kostiuk

2 years ago

The Abu Dhabi Financial Authority has released a draft of proposed changes to virtual asset regulation for market participant feedback.

Proposed Changes to the Virtual Asset Framework

The FSRA proposes changes to the process of accepting virtual assets for use within ADGM. New obligations for virtual asset firms and prohibitions on algorithmic stablecoins and privacy tokens are discussed.

Discussion Points on the Virtual Asset Framework

Aspects of various business models, including staking and lending/borrowing services, are considered. Changes to fees and capital requirements for firms are discussed.

Permitted Investments for Venture Capital Funds

Proposals allow venture capital funds to invest in virtual assets and various forms of digital tokens. These changes expand diversification options for investment portfolios.

The proposals reflect ADGM's attempt to adapt to the evolving world of virtual assets, supporting sustainable growth and safeguarding market participants.

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