The Qatar Financial Centre (QFC) has officially launched its QFC Digital Assets Framework 2024 to support the digital asset sector. The new regulatory framework was developed with participation from various market stakeholders.
New Digital Assets Framework
The QFC Digital Assets Framework 2024 provides clear guidelines for digital asset activities like issuance, trading, and custody. It was developed in collaboration with exchanges, custodians, and other market participants.
Addressing Key Regulatory Issues
The framework addresses important regulatory issues including anti-money laundering, counter-financing of terrorism, and market conduct. It also includes risk management measures to protect investors and maintain market integrity.
Digital Transformation and Innovation
The new framework aligns with the national digital transformation strategy and legally recognizes smart contracts. It was developed with input from 37 organizations across the financial, technology, and legal sectors. The QFC Digital Assets Lab, launched in October 2023, also played a key role, involving over 20 startups and fintech companies. With the framework in place, companies can now apply for token service provider licenses, marking a significant step in Qatar's financial sector modernization.
With the adoption of the new digital assets framework, Qatar strengthens its position in the global financial market, attracting both domestic and international players.
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