The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) unveiled tailored regulations for the cryptocurrency sector, officially known as the Distributed Ledger Technology (DLT) Foundations Regulations 2023, on November 2nd, as announced in a press release. These fresh regulations are designed to offer much-needed clarity and oversight to the cryptocurrency industry, positioning Abu Dhabi…
On October 19, Sheikh Saud bin Saqr Al Qasimi unveiled the RAK Digital Assets Oasis, also known as RAK DAO. It’s a specialized economic free zone with a unique focus on nurturing companies in the digital and virtual assets realm, which includes exciting fields like blockchain, Web3, and AI industries. RAK DAO aims to become…
During their recent meeting, the G20 finance ministers and central bank governors have embraced the roadmap on crypto assets proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). They have called for “swift and coordinated implementation” of this roadmap. The G20 finance ministers and central bank governors gathered in Marrakech, Morocco,…
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. …