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Abu Dhabi's Financial Watchdog Weighs Crypto Regulations

Law360 (February 12, 2018, 8:42 PM EST) -- Abu Dhabi, United Arab Emirates, financial regulators said Sunday they are considering establishing a regulatory framework for cryptocurrency exchanges and intermediaries, potentially providing a clearer legal regime for parties that facilitate transactions involving initial coin offerings.

The Financial Services Regulatory Authority of Abu Dhabi Global Market said it is consulting with market participants in its effort to develop a “robust, risk-appropriate regulatory framework" that would supervise virtual currency exchanges. It did not provide a timetable for such a plan.

The regulator's statement follows guidance issued in...
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