• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Regulation

Dubai regulator to develop cryptocurrency framework

Dubai regulator to develop cryptocurrency framework
  • Christopher Copper-Ind
  • @intlinvestment
  • 21 January 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Dubai Financial Services Authority (DFSA) has announced plans to draw up a regulatory framework for the UAE's nascent cryptocurrency sector.

Few of the plans details have been released at this stage. However it is understood the new regulations, likely to come into effect in 2022, will cover all digital assets and cryptocurrencies.  

Related articles

  • Jamie Dimon adds to cryptocurrencies' recent woes
  • US crypto firm to open in Abu Dhabi
  • Dubai and Hong Kong in fintech deal
  • Dubai to reduce DFSA regulation for fintech firms with new licence

The DFSA oversees inancial services firms registered in Dubai International Financial Centre (DIFC), a burgeoning freezone in the city.

We continue to explore how our regulatory regime can accommodate new and innovative business models."

The proposed rules will be based on the results of consultation papers, which are due to be distributed this year, according to reports.. 

In a statement the DFSA said it will be creating "a regulatory regime for digital assets (such as tokenized securities and crypto-currencies)." 

"The DFSA is committed to remain 'open for business' with respect to innovation in the financial services sector and we continue to explore how our regulatory regime can accommodate new and innovative business models."

Peter Smith, head of strategy, policy and risk at the DFSA, told Abu Dhabi's The National: "We will look to regulate a wide range of digital assets, including security tokens, utility tokens, the various types of exchange (or payment) tokens, such as cryptocurrencies [and] the firms that provide relevant services in these markets."

"We will regulate these markets in a proportionate and thoughtful manner, drawing on best practices across the globe."

 

Subscribe to International Investment's free daily newsletter

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Regulation
  • DIFC
  • Dubai International Finance Centre (DIFC)
  • Dubai
  • Dubai Financial Service Authority
  • Cryptocurrencies

More on Regulation

Woodford founders voiced concerns to FCA in 2015: reports

  • Regulation
  • 01 March 2021
FCA hands £3.4m back to unauthorised investment scheme victims

  • Regulation
  • 24 February 2021
EU removes Barbados from blacklist of 'non-cooperative' jurisdictions

  • Regulation
  • 23 February 2021
Jersey regulator fines three firms for breaching money laundering rules

  • Regulation
  • 17 February 2021
FCA partners with Jersey regulator to probe new Woodford venture

  • Regulation
  • 17 February 2021
Back to Top

Most read

HSBC appoints CEO for the Middle East region
HSBC appoints CEO for the Middle East region
People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
Nordic Fund Selector of the Year 2021 shortlist announced
Nordic Fund Selector of the Year 2021 shortlist announced
UK Budget: Sunak freezes lifetime allowance for pensions contributions
UK Budget: Sunak freezes lifetime allowance for pensions contributions
Europe's wealth mangers increasingly focusing on Bitcoin: survey
Europe's wealth mangers increasingly focusing on Bitcoin: survey
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading