In order to enhance and improve the regulatory framework for tokens within its special economic zone, the Dubai Financial Services Authority (DFSA) has announced amendments to its cryptocurrency token regime.
The DFSA, which serves as an independent regulator in the United Arab Emirates (UAE), is responsible for overseeing entities registered in the Dubai International Financial Centre (DIFC), one of the country’s special economic zones.
On June 3, the DFSA announced that it had revised its cryptocurrency token regime based on changes outlined in its Consultation Paper 153, published in January 2024.
These amendments addressed critical areas such as the regulation of funds investing in cryptocurrency tokens and the process for recognizing these tokens.
