The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) published a consultation paper proposing significant amendments to its capital markets framework, including in virtual assets, spot commodities, securities, derivatives, benchmarks and emissions allowances.
With regard to virtual assets, ADGM is launching its transition to Virtual Assets Framework 2.0., heralding a new stage for the asset class. Proposed changes include:
- requirements on the use, sharing and reuse of public keys;
- amendments to the risk disclosure requirements; and
- allowing regulated MTF/Custodian groups within ADGM to conduct non-fungible token (NFT) activities.
Deadline for comments on the consultation is 20 May 2022.