Dubai Financial Services launches a regulatory framework for digital assets for the purpose of investment
Today, the Dubai Financial Services Authority launched the regulatory framework on digital financial assets for the purpose of investment, which is based on the proposals contained in Advisory Paper No. (138) issued by the Authority in March 2021, and is the first phase of the DFSA’s digital assets system.
The regulatory framework defines a digital financial asset for the purpose of investment as, either a digital financial asset or another digital financial derivative, which mainly includes: securities and financial derivatives in a digital form secured with cryptography to represent rights and obligations that are issued, transferred, and stored using distributed ledger technology (DLT) or similar technologies;
or any cryptographically secured digital body to represent rights and obligations that are issued, transferred, and stored using distributed ledger technology (DLT) or similar technologies.
Al-Sata explained in a statement that the regulatory framework for digital financial assets for the purpose of investment applies to persons interested in marketing, issuing, trading, or owning digital financial assets for the purpose of investing in or from the Dubai International Financial Center.
The framework also applies to authorized firms wishing to provide financial services related to digital financial assets for the purpose of investment, such as trading, advising, or arranging transactions related to digital financial assets for the purpose of investment, or managing discretionary portfolios or collective investment funds that invest in digital financial assets for the purpose of investing. investment.
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