The financial authority of Abu Dhabi Global Market has launched a regulatory framework for cryptocurrency activities following the completion of a public consultation. The market’s financial watchdog has also published a guideline explaining how crypto asset activities are now regulated.
Crypto Regulatory Framework LaunchedAbu Dhabi Global Market (ADGM) announced this week that it has launched a “framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM.”
ADGM is the international financial center in Abu Dhabi which collaborates with global financial centers, institutions, and regulators to “develop and supports member institutions with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth,” its website describes. The Financial Services Regulatory Authority (FSRA) is the market’s watchdog. ADGM wrote:
“The framework is designed to address the full range of risks associated with crypto asset activities, including risks relating to money laundering and financial crime, consumer protection, technology governance, custody and exchange operations.”
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