The Abu Dhabi Financial Services Authority (FSRA) within the Emirates Global Markets Department (ADGM) announced its intention “to consider the possibility of creating a reliable, risk-appropriate regulatory framework for regulating and controlling the activities of crypto-exchange exchanges and various intermediaries.”
FSRA is concerned about the potential use of cryptocurrency for money laundering and terrorist financing. At the same time, the department believes that the crypto-exchange markets cause increased interest on the part of cybercriminals. In this regard, the sites for trading in digital currencies will be obliged to comply with AML / KYC legislation.
In addition, the regulator will consult with industry representatives and relevant specialists in advance.