Qatar Establishes Regulatory Infrastructure for Digital Assets
CryptoNewsTerminal Staff02 Sep, 2024
Qatar Establishes Regulatory Infrastructure for Digital Assets
Qatar has taken a significant step toward regulating digital assets within its financial sector. The Qatar Financial Centre (QFC) has unveiled a comprehensive regulatory framework encompassing various aspects of digital assets. This framework aims to provide a robust and transparent regulatory environment for entities operating in Qatar's digital asset market. It covers critical areas such as tokenization processes, legal property rights associated with tokens, custody requirements, regulations governing transfers and exchanges, and provisions for recognizing smart contracts legally. In addition to this framework, Qatar had previously implemented a framework for tokenizing physical assets in July. These initiatives demonstrate Qatar's commitment to embracing digital innovation while ensuring regulatory oversight.
