Dubai Financial Regulator Updates Crypto Token Rules For Funds
The Dubai Financial Services Authority (DFSA) has revised its cryptocurrency token regime to improve the regulatory framework for tokens within its special economic zone.
The amendments address key areas such as funds investing in crypto tokens and the recognition process for crypto tokens.
The changes affect the ability of both domestic and external funds to offer investment units in recognized crypto tokens.
The DFSA reduced the application fee for token recognition from $10,000 per token to $5,000 and introduced additional recognition criteria for stablecoins, crypto tokens pegged to fiat currencies.
The proposal does not mean a more lenient stance, but allows the DFSA to recognize Fiat Crypto Tokens issued in other jurisdictions with comparable regulation.
The changes aim to enhance the regulatory framework for tokens within the special economic zone and provide flexibility for domestic investors to invest in unrecognized crypto.
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