Abu Dhabi Unveils Groundbreaking DLT Regulatory Framework
Abu Dhabi Global Market (ADGM) has introduced the Distributed Ledger Technology (DLT) Foundations Regulations 2023, establishing a pioneering legislative structure for blockchain and DAOs. These regulations will strengthen the blockchain and Web3 sector, positioning the region and ADGM at the forefront of digital asset regulation.
The DLT Foundations Regulations have been specifically designed to address the complexities of the blockchain ecosystem, enabling the operation and issuance of tokens by DAOs and blockchain foundations. This makes the UAE the first country in the world to set such high standards for regulatory frameworks.
ADGM emphasized that these regulations are crucial as Abu Dhabi has become a leading hub for digital asset innovators. The DLT Foundations Regime aims to drive significant progress in the digital assets space, promoting transparency and efficiency. ADGM has also published a detailed 76-page report outlining the registration requirements, obligations, documentation, and auditing processes under these regulations.
A Catalyst for a Transparent and Efficient Digital Asset Future
With this regulatory framework, ADGM solidifies the UAE’s position as a global trailblazer in the digital economy, paving the way for a transparent, efficient, and secure digital asset future.
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