PANews reported on June 11 that according to Crowdfundinsider, the Financial Services Regulatory Authority (FSRA) of Abu Dhabi International Financial Centre announced revisions to its digital asset regulatory framework, effective immediately. These revisions were advanced after extensive industry consultation and feedback on Consultation Paper No. 11 of 2024. Key modifications include: optimizing the process for virtual assets (VAs) to become recognized virtual assets in Abu Dhabi Global Market (ADGM), establishing appropriate capital requirements and fee regulations for authorized persons conducting related regulated activities. Additionally, specific product intervention rights for virtual assets were introduced, clarifying rules prohibiting the use of privacy tokens and algorithmic stablecoins within ADGM. Furthermore, the investment scope for venture capital funds was expanded.
