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Abu Dhabi to Consider Creation of “Regulatory Framework” for Bitcoin, Other Digital Currencies

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Abu Dhabi to Consider Creation of “Regulatory Framework” for Bitcoin, Other Digital Currencies
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Abu Dhabi is considering new regulations on digital currencies, according to the nation’s Financial Services Regulatory Authority (FSRA). The FSRA is “considering the development of a robust, risk-appropriate regulatory framework” which will “supervise activities of virtual currency exchanges and intermediaries.” Abu Dhabi has already begun the process, laying out a broad regulatory approach to ICOs and digital currencies last fall. As in many places, digital currencies will be classified as commodities.


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