The Abu Dhabi Global Market (ADGM) – the city's international financial free zone within the UAE – has admitted a second batch of fintech startups to its Regulatory Laboratory (RegLab).
With the move, the 11 local and international fintech firms will work under the framework of the Financial Services Regulatory Authority (FSRA), one of three independent authorities of the ADGM, to develop and test their products within a controlled "sandbox" environment.
The latest batch of startups – including blockchain firms EquiChain and OKLink, both based in the U.
Abu Dhabi’s international financial center has entered a collaboration with payments giant Mastercard to develop and accelerate FinTech solutions in the region.
The Abu Dhabi Global Market (ADGM), an international financial center established by a UAE Federal Decree to develop and strengthen financial services in Dubai as a global center for business and finance, is partnering Mastercard to develop FinTech activities in UAE’s capital and the wider MENA (The Middle East North Africa) region.
The government of Abu Dhabi, through its markets regulator, has released guidelines on virtual currencies and initial coin offerings (ICOs).
The government of Abu Dhabi has published [PDF] guidelines to bring clarity to its regulatory approach to ICOs and virtual currencies for ICO organizers and digital currency adopters. After deliberation, the Financial Services Regulatory Authority (FSRA)– Abu Dhabi’s financial markets regulator – has decided that a “one size fits all” approach to virtual tokens, be it ICO tokens or digital currencies or any other implementation of blockchain solutions powered by crypto tokens, is “inappropriate.
The government of Abu Dhabi has released new guidelines for those looking to organize or participate in an initial coin offering (ICO).
Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA) said that it would apply existing anti-money laundering and know-your-customer (KYC) rules to token sales, classifying some as securities (depending on their makeup and underlying structure) and others as commodities. Like a growing number of regulators worldwide, the agency said that it would weigh the sale and release of blockchain-based tokens on a case-by-case basis.