FSRA Consultation Paper No. 11 of 2024 outlines proposed amendments to the digital asset regulatory framework in Abu Dhabi Global Market (ADGM). It seeks public comment on revisions to the Virtual Asset (VA) framework, criteria for accepting Fiat-Referenced Tokens (FRTs), and expanding investment scope for Venture Capital Funds (VC Funds). The aim is to refine and update regulations for VA activities within ADGM.
Key requirements
- Comply with revised processes for VA acceptance within ADGM.
- Adhere to updated capital requirements and fees for VA Firms.
- Meet the criteria for acceptance of Fiat-Referenced Tokens (FRTs) issued outside ADGM.
- Comply with expanded investment scope for Venture Capital Funds (VC Funds).
Applies to: VA Firms, Authorised Persons intending to conduct Regulated Activities involving FRTs, Fund Managers of VC Funds, Applicants considering undertaking any of the foregoing activities, other Persons active in the VA sector, and their respective professional advisors within ADGM