• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Dubai to release regulatory framework for cryptocurrencies

5 years ago
in Cryptocurrency
2 min read
0 0
0
Dubai Financial Services Authority - norvanreports

Dubai Financial Services Authority - norvanreports

93
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Dubai Financial Services Authority (DFSA) has unveiled its plans to create a regulatory framework for cryptocurrencies. The announcement was part of its 2021-2022 business agenda released this week.

The papers will be released in the first half of 2021

According to the watchdog, which regulates the Dubai International Financial Centre (DIFC), the upcoming crypto framework aims to expand on the existing rules. It includes the regulation of crypto issuers and trading platforms.

The document, signed by DFSA Chairman Saeb Eigner, reads:

We will build upon recent achievements in this space over the business planning period through developing a regulatory regime for digital assets (such as tokenized securities and crypto-currencies), having already implemented regulations supporting various innovative business models.

The financial watchdog explains that such crypto regulation’s expansion is part of the UAE’s National Innovation Strategy’s digital transformation.

Also, the regulator added that the regulatory approach is expected to facilitate innovation “while requiring strict adherence to the DFSA’s licensing, prudential and conduct requirements.”

Per The National, a local media outlet, the DFSA expects to publish two consultation papers with the purpose of gathering feedback. As a result, the watchdog will release both documents in the first half of 2021. The 2021-2022 business plan states:

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.

DFSA’s current stance on cryptocurrencies

In 2017, the DFSA referred to the crypto industry in the statement entitled “General Investor Statement on Cryptocurrencies.” At the time, the authority was vocal in its cautious stance on cryptos, considering elements such as initial coin offerings (ICOs) “high-risk investments.”

RelatedPosts

New Standards for Economic Data Aim to Sharpen View of Global Economy 

Crypto Outpaces Traditional Finance: Fastest Growing Companies of 2025

Virtual Assets and Consent Management Must Go Hand in Africa

The watchdog wrote in its 2017 statement:

Accordingly, before engaging with any persons promoting such offerings in the DIFC, or making any financial contribution toward such offerings, the DFSA urges potential investors to exercise caution and undertake due diligence to understand the risks involved.

However, Dubai’s authorities have been issuing licenses through the Dubai Multi Commodities Centre (DMCC) to firms trading cryptocurrencies since 2017. The DMCC Free Zone is the largest and fastest-growing free economic zone in the UAE.

Source: Bitcoin.com
Via: norvanreports
Tags: Dubai Financial Services Authority (DFSA)Dubai International Financial Centre (DIFC)regulatory framework for cryptocurrencies
No Result
View All Result

Highlights

US Slaps Tariffs on 1-Kg, 100-Oz Gold Bars

CDD-Ghana Mourns Victims of Military Helicopter Crash, Calls for Thorough Investigation

Tribute from CUTS International: “These Men Are Worth Our Tears”

World Bank Joins African Development Bank and Mastercard as Co-Chair of Mobilizing Access to the Digital Economy Alliance

OpenAI Launches GPT-5, Expands ChatGPT Power to 700m Users

Energy Analysts Urge Operational Efficiency as Tullow Oil Swings to $61m Loss in H1 2025

Trending

Features

Manchester United Unveils £50 Million Upgrade to Carrington Training Complex Ahead of New Season

August 8, 2025

Manchester United Unveils £50 Million Upgrade to Carrington Training Complex Ahead of New Season Manchester United has...

Formula 1’s Wild 2025 Season: Seat Swaps, Dramatic Comments, and Historic Podiums

August 8, 2025

Aircraft Age Not a Factor in Fatal Z-9EH Crash, Says Bright Simons; Cautions Against Rushed Military Aircraft Procurement

August 8, 2025

US Slaps Tariffs on 1-Kg, 100-Oz Gold Bars

August 8, 2025

CDD-Ghana Mourns Victims of Military Helicopter Crash, Calls for Thorough Investigation

August 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.