The Dubai Financial Services Authority (DFSA) has made an announcement regarding revisions to its regulations concerning crypto tokens in the Dubai International Financial Centre (DIFC), a special economic zone. These amendments aim to improve the regulatory framework surrounding crypto tokens and cover various aspects such as investment in both recognized and unrecognized crypto tokens, custody and staking of such tokens, compliance with financial crime regulations (including the “travel rule”), transaction monitoring, and the criteria for recognizing fiat crypto tokens (stablecoins). These changes have been made in response to developments in the market and in line with international standards, including recommendations from the International Organization of Securities Commissions (IOSCO) and the Basel Committee. Ian Johnston, the Chief Executive of DFSA, highlighted the importance of promoting responsible innovation while upholding regulatory standards.
