The Dubai Financial Services Authority (DFSA) has expanded its recognition of digital assets, and now includes Ripple (XRP) and Toncoin (TON) on its list of officially recognized tokens. This move demonstrates the DFSA’s commitment to creating a regulatory environment that supports the growth of digital assets. The authority introduced cryptocurrency regulations in October 2021 and further reinforced them in November 2022 to establish a strong framework for the operation of digital assets within the Dubai International Financial Centre (DIFC).
In late September, the DIFC unveiled its proposal for a Digital Assets Law, indicating a proactive approach towards regulating the emerging digital asset space. This initiative also involved plans to repeal the 2005 Law of Security and the Financial Collateral Regulations, followed by the enactment of an updated Law of Security that covers collateral regulations.
