The Dubai Financial Services Authority is developing a framework to regulate digital assets

On January 19th, the Dubai Financial Services Authority is developing a framework to regulate digital assets, such as cryptocurrencies. The agency revealed this move in its business plan for 2021/22 announced on Monday. Peter Smith, Director of Strategy and Risk Department of the Dubai Financial Services Authority (DFSA), said that we will supervise a wide range of digital assets, including security tokens, utility tokens, and various types of exchange (or payment) tokens. (Such as cryptocurrency) and companies that provide related services in these markets. The DFSA will publish two consultation documents to solicit opinions on the proposed rules, one in the first quarter and the other in the second quarter.