UAE Finance Authority Proposes DLT Legal Framework

ABU DHABI, UAE – On Friday, the Abu Dhabi Global Markets Registration Authority (ADGM) published a legislative framework for distributed ledger technology (DLT) legislative framework, Friday. 

Known as ‘DLT Foundations Regulations 2023,’ the initiative aims to establish a tailored framework that considers the foundations' unique features that would attract developers of DLT projects. 

The ADGM seeks to address matters of service type and governance. The proposal covers various topics, including reporting, disclosures, publication, insolvency, and liquidation measures. 

The proposals are meant for anyone seeking to operate or launch a DLT project in the UAE, digital asset-related activities, and their legal advisors. The framework report invites industry associations and stakeholders to provide feedback by its May 12 deadline.