New Crypto Regulation: Abu Dhabi Mulls Stablecoin Framework

IconCryptoNewsTerminal Staff21 Aug, 2024

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New Crypto Regulation: Abu Dhabi Mulls Stablecoin Framework

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) is seeking public feedback on a proposed regulatory framework for stablecoins until October 3. The framework will outline the standards for issuers of fiat-backed stablecoins (FRTs), including the requirement to hold sufficient reserves to back the stablecoins in circulation.