uae blockchain
UAE Financial Watchdog Asks for Public Feedback on Crypto Regulation
October 16, 2019
uae blockchain
UAE Financial Watchdog Asks for Public Feedback on Crypto Regulation
October 16, 2019

The United Arab Emirates’ (UAE) Securities and Commodities Authority (SCA) has published draft regulations for crypto assets.

Feedback From The Crypto Industry

An official statement from Oct. 15 stated that the SCA will start collecting public feedback on the draft regulations until Oct. 29.

It will be done just before submitting the final drafted legislation to the industry. Crypto players are all invited to give feedback including brokers, financial analysts, investors, researchers, and the media.

The SCA said that the proposals from all the crypto players will be taken into consideration for the final regulation.

Providing Guidance After Regulation

The draft consists of 28 parts covering all the crypto assets industry in the United Arab Emirates. It includes security and custodial policies, information security controls, requirements for token issuers, measures for protecting investors and combating financial crimes, technology governance standards, etc.

The authority said that once the regulation is implemented market participants will be able to request the SCA guidance regarding a specific part of the industry and the regulatory requirements through its electronic services system.

ALSO READ :  Dapper Labs Says CryptoKitties Will Be Launched On Its Flow Blockchain

Blockchain Projects in the UAE

On Oct 14. Cryptonewspoint reported that Blocko, the South Korean enterprise blockchain provider backed by Samsung, has launched in the UAE after raising funding in the Asia Pacific and Europe, the company said.

Upon Blocko’s official launch, the company entered a business and technology partnership with SEED Group, a conglomerate in royal family member Sheikh Saeed bin Ahmed Al Maktoum’s private office.


Source: Cointelegraph.com | Image: Shutterstock


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!