Abu Dhabi introduces a trailblazing DLT regulatory framework, setting global standards for blockchain foundations and DAOs.
Abu Dhabi Global Market (ADGM) has unveiled the Distributed Ledger Technology (DLT) Foundations Regulations 2023, establishing a pioneering legislative structure for blockchain and DAOs. The Registration Authority of ADGM announced that these regulations will help to bolster the blockchain and Web3 sector, thereby propelling the region and ADGM into the forefront of digital asset regulation.
The DLT Foundations Regulations have been crafted to specifically address the complexities of the blockchain ecosystem, allowing for the operation and issuance of tokens by DAOs and blockchain foundations. In this regard, the UAE stands as the world’s first, setting a high bar for regulatory frameworks globally.
ADGM emphasized that these regulations are critical as Abu Dhabi has rapidly become a prime location for leading digital asset innovators. The DLT Foundations Regime is envisioned to be a catalyst for substantial progress in the digital assets space, advocating for a transparent and efficient future. ADGM has also released a 76-page report, detailing the DLT Foundations Regulations, which includes registration requirements for businesses, obligations, documentation, and auditing processes.
With this regulatory framework, ADGM reaffirms the UAE’s status as a global trailblazer in the digital economy, paving the way for a transparent, efficient, and secure digital asset future.