The SCA’s decision marks a significant step towards achieving enhanced regulation of digital securities and commodities in the UAE.

Key Points:

..The announcement signals a change in the SCA’s position following its previous cautionary statement to the market.

..The proposed framework will regulate crypto-asset activities, including ICOs, exchanges, and other intermediaries, and will cover key risks such as anti-money-laundering and counter-terrorist financing, consumer protection, technology governance, and safe custody.