The ADGM Unveils the World’s First DLT Foundations Regulations
The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has introduced the Distributed Ledger Technology (DLT) Foundations Regulations 2023, a groundbreaking regulatory framework for digital assets. This regime is specifically designed to address the legal requirements of Blockchain Foundations, Decentralised Autonomous Organisations (DAOs), and the wider crypto industry.
A Progressive Milestone in Regulatory Evolution
This new regime represents a significant milestone in ADGM’s strategy to support blockchain and digital asset initiatives. It aims to promote transparency and efficiency across the blockchain and Web3 landscape, setting a global benchmark for other regions to follow.
A Robust Framework for DLT Foundations and DAOs
The DLT Foundations Regulations 2023 provides a comprehensive framework for DLT Foundations and DAOs, enabling their operations and token issuance while catering to the unique needs of the blockchain industry. It also offers a unified solution for traditional Foundations seeking to incorporate DLT into their operations.
A Monumental Stride Towards Transparency and Efficiency
His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM, emphasizes that the DLT Foundations Regime signifies ADGM’s proactive approach in collaborating with stakeholders. By reshaping the blockchain and Web3 landscape, this initiative drives the industry towards global standards of transparency and efficiency.
ADGM: A Prominent Hub for Technological Innovation
ADGM, as an International Financial Centre (IFC), continues to support technological innovation and create an environment conducive to the growth of crypto initiatives. The rapid development of Digital Ledger Technology has positioned it as a key component of the global digital assets sector.
Hot Take: Pioneering Regulatory Framework for the Crypto Industry
The unveiling of the DLT Foundations Regulations 2023 by ADGM marks a significant moment in the regulatory evolution of digital assets. This pioneering framework addresses the unique legal requirements of blockchain and decentralized organizations, setting a global benchmark for other regions. By fostering transparency and efficiency, ADGM aims to shape the future of the industry and create a conducive environment for crypto initiatives to thrive. This initiative is a testament to ADGM’s commitment to technological innovation and collaboration with stakeholders, positioning it as a prominent hub for digital asset activities. The DLT Foundations Regime represents a monumental stride towards a more decentralized governance structure and paves the way for the wider adoption of blockchain technology.
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