According to an official announcement published February 11, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) is preparing a set of regulations for cryptocurrencies, Initial Coins Offerings (ICOs) and cryptocurrency exchanges,
In order to develop these new regulations, FSRA stated they intend to cooperate with relevant qualified institutions and individuals involved in the cryptocurrency industry. However the financial regulator did not specify when the regulations are expected to be released but due to the increase in demand for and interest in this space within the UAE as a whole, it is likely that we can expect regulations to be introduced by Q2 2018.
Regulation is very good for cryptocurrency in general.
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