Why Are Crypto Companies Going to Abu Dhabi?

Coindesk | Apr 3, 2020 at 10:00 AM
  • For cryptocurrency startups seeking the stamp of legitimacy that comes with regulation, the capital of the United Arab Emirates (UAE) has become a draw.
  • Richard Teng, CEO of the ADGM’s chief markets watchdog, the Financial Services Regulatory Authority (FSRA) told Coindesk that it had “received strong interest” from industry players in operating as a licensed crypto business in the jurisdiction.
  • The ADGM’s crypto framework provides a full list of standards and expectations on key financial market components, like anti-money-laundering, market integrity, customer protection, safe custody of assets and governance models, for any business looking to operate as an exchange, brokerage or custodian in the jurisdiction.