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

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

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.

Cover image via u.today
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