Dubai strengthens its position as a global center for cryptocurrencies by updating its regulatory framework

In an important step towards strengthening its position as a global cryptocurrency hub, She declared The Dubai Financial Services Authority (DFSA) has announced comprehensive updates to its regulatory framework for cryptocurrencies. These updates respond to rapid market developments and the recommendations of competent international organizations. It aims to promote innovation and growth in this vital sector while ensuring the highest levels of investor protection and compliance with international standards.

New updates include expanding the scope of investments in offshore and foreign funds that invest in recognized cryptocurrencies. Allow qualified local investor funds to invest in unrecognized currencies. The updates also address important aspects such as storing cryptocurrencies, participating in mining, and combating financial crimes related to cryptocurrencies.

Ian Johnston, Director General of the Dubai Financial Services Authority, said: “Our objective through this regulatory framework is to promote innovation in a responsible and transparent manner while ensuring that Our organizational objectives"

He added: “At the Dubai Financial Services Authority, we have taken a balanced approach in developing this system. We are committed to developing it in accordance with international best practices and standards.

This step is a strong signal of Dubai’s commitment to providing a regulatory environment conducive to growth. Cryptocurrency industryAnd encourage investments in this promising area. These updates are expected to help attract more businesses and investors to the DIFC. And strengthen its position as a leading innovation center in the field of financial technology.

Details of new updates from Dubai Financial Services Authority

Key updates under the DFSA include:

• Broaden the scope of investments: Allowing domestic and foreign investment funds to invest in a wider range of cryptocurrencies, including unrecognized currencies.


• Improve protection: Establish strict controls for storing cryptocurrencies and participating in mining, ensuring investor funds are protected.


• Fight against financial crime: Strengthen anti-money laundering and anti-terrorism financing measures related to cryptocurrencies and implement the “Travel Rule” to track suspicious transactions.


• Cryptocurrency recognition: Establish clear standards for recognizing cryptocurrencies and determine the fees involved.

The Dubai Financial Services Authority is the independent regulator of the financial services sector within the DIFC. The Authority is committed to providing a world-class regulatory environment and encouraging innovation and growth in Dubai's financial services sector.