The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) released tailor-made rules for the crypto industry called the Distributed Ledger Technology (DLT) Foundations Regulations 2023 on Nov. 2, according to a press release.
The new rules aim to provide the crypto industry with much-needed regulatory clarity and position Abu Dhabi as the second crypto hub in the UAE, alongside Dubai.
Ahmed Jasim Al Zaabi, the Chairman of ADGM, emphasized Abu Dhabi’s rapid transformation into a hub for digital asset innovators and its unwavering commitment to nurturing an ecosystem that fosters technological progress.
This move highlights the UAE’s commitment to positioning itself at the forefront of digital innovation.
DLT Foundations Regulations
The new regulatory framework addresses the specific legal requirements of Blockchain Foundations, Decentralised Autonomous Organisations (DAOs), and the broader crypto industry.
The framework was created after an exhaustive consultative process wi
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