According to Odaily Planet Daily, the Dubai Financial Services Authority (DFSA) announced a revision of its cryptocurrency token regime to strengthen and advance the token regulatory framework within its special economic zones. The DFSA is an independent regulator in the United Arab Emirates (UAE) responsible for regulating entities registered in the Dubai International Financial Center (DIFC), a special economic zone in the country.
On June 3, the DFSA said it had amended its crypto token regime to reflect changes in Consultation Paper 153, which was published in January 2024. The revisions cover several important areas, including funds investing in crypto tokens and the identification process for crypto tokens. On the fund side, the amendments affect the ability to offer units of external and foreign funds that invest in recognized crypto tokens. Previously, the DFSA restricted fund activities involving crypto tokens.
