New ‘crypto token regime’ instituted at the Dubai International Financial Centre By Cointelegraph

The Dubai Financial Services Authority (DFSA) announced on Nov. 1 that its crypto token regime has come into force in the Dubai International Financial Centre (DIFC) special economic zone, with a six-month transition period. The new regime is the DFSA’s second round of regulations, building on the “Regulation of Investment Tokens” introduced at the DIFC in October 2021.

Crypto tokens are understood to be any token besides the previously defined investment tokens, with the exception of utility tokens, nonfungible tokens, central bank digital currencies, privacy tokens and algorithmic tokens. Tokens must be recognized by the DFSA to be used in the DIFC, following an established application process. Stablecoins, or “fiat crypto tokens,” are subject to additional requirements.