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ADGM FSRA: 05 Dec 2024
The Financial Services Regulatory Authority (FSRA) of ADGM has published Consultation Paper No. 11 of 2024 setting out proposed amendments to its regulatory framework for Authorised Persons conducting Regulated Activities involving Virtual Assets in ADGM and to seek feedback on potential changes to that framework.
The proposed amendments include revisions to the process by which Virtual Assets are accepted for use within ADGM and refinements to capital requirements and fees. The paper also seeks feedback on several questions, including questions relating to staking and other emerging business models involving Virtual Assets.
Feedback is also sought on the criteria to be applied in determining whether non-ADGM issued Fiat-Referenced Tokens should be accepted within ADGM. The paper also proposes to expand the scope of investments in which Venture Capital Funds may invest.
The consultation period will close on 31 January 2025 and the consultation materials may be viewed via this link.
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