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The National
11-06-2025
- Business
- The National
Amended ADGM rules on digital assets to cut approval time and attract institutional players
The changes by Abu Dhabi's financial hub ADGM to its regulatory framework for digital assets will reduce approval time for tokens and also attract more institutional players, according to analysts. The amendments streamline the process through which virtual assets (VAs) are accepted for use in the financial hub, ADGM's regulator, the Financial Services Regulatory Authority (FSRA), said. They also impose appropriate capital requirements and fees for authorised persons conducting regulated VA activities. The changes will lead to faster token approvals, since the process of adding new VAs to the ADGM's 'Accepted Virtual Assets' list has been streamlined, according to Nic Puckrin, crypto analyst and founder of The Coin Bureau, which publishes independent crypto-educational content. 'Previously, it was a lengthy and arduous process, but it will now take a lot less time, provided the token meets risk, liquidity and transparency standards,' he added. The move signals the maturing of Abu Dhabi's regulatory regime and its ambition to become a global hub for digital assets, said Devesh Mamtani, chief market strategist at Dubai-based Century Financial. These amendments also increase ADGM's competitive standing relative to other financial centres like Dubai, Singapore and Hong Kong. The amendments were implemented after 'extensive' industry engagement and feedback, according to the FSRA. Emmanuel Givanakis, chief executive of ADGM's FSRA, said the changes mark a 'significant milestone' in the evolution of its framework for digital asset regulation. 'We have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem," he added. Several global cryptocurrency players have sought to establish a foothold in the UAE amid the country's focus on the sector. ADGM has been able to attract some of the biggest names, such as eToro and M2, allowing these companies to operate as a broker for securities, derivatives and crypto assets, and platforms for institutional and retail investors to buy, sell and hold custody of virtual assets. In December, the FSRA introduced a regulatory framework for the issuance of fiat-referenced tokens – a category of stablecoins backed by high-quality and liquid assets denominated in the same currency. 'The new amendments refine the institutional framework for digital asset companies entering Abu Dhabi and make it much simpler for them to quickly set up operations,' Mr Puckrin said. 'The timing is particularly important as the US is stepping up its efforts to be a crypto-friendly jurisdiction and many crypto companies are either moving to the US or re-establishing their presence in the US," he said. "So, if the UAE wants to compete, it has to step up, especially when it comes to attracting big institutional players. That means offering more clarity, which this updated framework appears to do, and allowing companies that meet the requirements to fast-track.' However, he warned that the framework is still relatively rigid, so companies that fall outside of the box may still face delays and red tape. The FSRA has also expanded the scope of regulated activities under the new Virtual Asset Regulatory Framework (VARF), which now includes virtual asset lending, borrowing and staking, activities that were previously unregulated, Mr Mamtani explained. "By offering a clear regulatory pathway for these services, Abu Dhabi is likely to attract a wave of digital lending and staking projects and platforms looking for legal certainty and a supportive jurisdiction," he added. The amendments also include revised capital requirements and adjusted regulatory fees to better reflect risk and activity type. This makes rules more consistent across the board and also ensures crypto companies have more buffer to account for potential risks, according to Mr Puckrin. Mr Mamtani said the framework now introduces tiered capital thresholds based on the type and scale of services offered. For instance, custody providers of virtual assets must hold either $250,000 in base capital or six months' audited operating expenses. Multilateral trading facilities handling virtual assets are now required to hold six months' operational expenses plus any additional buffer. Additionally, virtual asset service providers must now comply with enhanced custody and safeguarding rules, with a stronger focus on the segregation of client assets and technological risk management, Mr Mamtani said. The amendments also introduce specific product intervention powers in relation to VAs. The FSRA now has formal authority to restrict or prohibit virtual asset products that pose undue risk to investors or markets. In addition, privacy coins and algorithmic stablecoins remain explicitly prohibited from being listed or used in ADGM. The amendments also expand the scope of investments in which venture capital funds may invest. ADGM-authorised VC funds can now invest more broadly in digital asset businesses, including infrastructure and services. The move positions ADGM as one of the most 'institutionally comprehensive' crypto regulators globally, Mr Puckrin said. This is part of Abu Dhabi's broader strategy to attract institutional digital asset firms and tokenisation projects under 'strong, rule-based supervision', he added.
Khaleej Times
10-06-2025
- Business
- Khaleej Times
ADGM FSRA implements amendments to its digital asset regulatory framework
The Financial Services Authority (FSRA) of Abu Dhabi Global Market (ADGM) today announced the implementation of amendments to its regulatory framework for digital assets, with immediate effect. The implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of 2024. The focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms). The amendments also introduce a specific product intervention power in relation to VAs as well as enshrining rules that confirm the existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within ADGM. Finally, the amendments expand the scope of investments in which Venture Capital Funds may invest. The FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment criteria. Emmanuel Givanakis, Chief Executive Officer of ADGM's FSRA said: 'The implementation of these changes marks a significant milestone in the evolution of the FSRA's framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem. We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services." The FSRA acknowledges the constructive and well received feedback received in response to the Consultation Paper, including in relation to the discussion points raised, and for the amended legislation see here.
Economy ME
10-06-2025
- Business
- Economy ME
ADGM FSRA implements amendments to digital asset regulatory framework
The Financial Services Authority (FSRA) of ADGM has announced the implementation of amendments to its regulatory framework for digital assets. This implementation follows extensive engagement with the industry and feedback received on Consultation Paper No. 11 of 2024. The primary focus of the implemented amendments is on revising the process through which Virtual Assets (VAs) are accepted as Accepted Virtual Assets (AVAs) in ADGM, along with establishing appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities related to VAs (VA Firms). Additionally, the amendments introduce a specific product intervention power concerning VAs, while also reinforcing existing rules that prohibit the use of privacy tokens and algorithmic stablecoins within ADGM. Furthermore, the amendments broaden the scope of investments for which Venture Capital Funds may invest. The FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect these measures and provide further assistance to VA Firms regarding the application of the AVA assessment criteria. Read more: ADGM FSRA publishes IT Risk Management Guidance Regulatory certainty for industry Emmanuel Givanakis, chief executive officer of ADGM's FSRA, stated: 'The implementation of these changes marks a significant milestone in the evolution of the FSRA's framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem. We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services.'
Al Etihad
10-06-2025
- Business
- Al Etihad
ADGM FSRA implements amendments to its digital asset regulatory framework
10 June 2025 14:56 ABU DHABI (WAM)The Financial Services Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Tuesday announced the implementation of amendments to its regulatory framework for digital assets, with immediate implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms).The amendments also introduce a specific product intervention power in relation to VAs, as well as enshrining rules that confirm our existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within the amendments expand the scope of investments in which Venture Capital Funds may FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment Executive Officer of ADGM's FSRA, Emmanuel Givanakis, said, "The implementation of these changes marks a significant milestone in the evolution of the FSRA's framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem.""We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services." The FSRA acknowledges the constructive and well-received feedback received in response to the Consultation Paper, including in relation to the discussion points raised.
Zawya
10-06-2025
- Business
- Zawya
ADGM FSRA implements amendments to its Digital Asset Regulatory Framework
ADGM implemented amendments to its regulatory framework for digital assets to streamline the process by which Virtual Assets are accepted for use within ADGM, alongside refinements to capital requirements and fees. Abu Dhabi, UAE: The Financial Services Authority (FSRA) of ADGM today announced the implementation of amendments to its regulatory framework for digital assets, with immediate effect. The implementation of these amendments follows extensive industry engagement and feedback received on Consultation Paper No. 11 of 2024. The focus of the implemented amendments is on revisions to the process whereby Virtual Assets (VAs) are accepted for use as Accepted Virtual Assets (AVAs) in ADGM, alongside appropriate capital requirements and fees for Authorised Persons conducting Regulated Activities in relation to VAs (VA Firms). The amendments also introduce a specific product intervention power in relation to VAs as well as enshrining rules that confirm our existing approach to the prohibition of using privacy tokens and algorithmic stablecoins within ADGM. Finally, the amendments expand the scope of investments in which Venture Capital Funds may invest. The FSRA has updated the Guidance – Regulation of Virtual Asset Activities in ADGM to reflect the implemented measures and to provide further guidance to VA Firms in relation to applying the AVA assessment criteria. Emmanuel Givanakis, Chief Executive Officer of ADGM's FSRA said: ' The implementation of these changes marks a significant milestone in the evolution of the FSRA's framework for digital asset regulation. Through extensive consultation with industry stakeholders, we have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem. We believe this further positions ADGM as a premier jurisdiction for digital asset-related activities and shows our commitment to fostering responsible innovation in financial services." The FSRA acknowledges the constructive and well received feedback received in response to the Consultation Paper, including in relation to the discussion points raised, and for the amended legislation see here. About ADGM ADGM is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi's position as a leading financial centre and a business hub, serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world. Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island, collectively designated as the financial free zone of Abu Dhabi. ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region. Its progressive and inclusive business ecosystem fosters growth, resilience, and optimism for global financial and non-financial institutions. Growing synergies between ADGM and multiple jurisdictions have positioned the centre as one of the world's most advanced, diverse, and progressively governed financial hubs. For more details on ADGM, please visit or follow us on LinkedIn and Instagram: @ADGM X: @adglobalmarket For media queries, please contact: E: media@
