Abu Dhabi Starts to Regulate NFTs
The business regulation in UAE might be complex but always includes new technologies and ventures in the business spectrum of the country. In the last periods, NFTS has become the hottest topic in the crypto world and the regulation always follows up.
ADGM, the free zone in UAE, issued a first guidance regarding NFTs to include them in the formal regulatory framework for financial markets.
ADGM Financial Services’ CEO, Emmanouil Givanakis, stated that the research around NFTs had started 6 months ago and the discussion is open for discussions, until May 20. Indeed, many businesses have made suggestions and we are looking to see more actions in the short-term future.
The guidance will be around public key management and investment risks for virtual assets.