1. This Guidance is issued under section 15(2) of the Financial Services and Markets Regulations 2015 (“FSMR”). It should be read in conjunction with FSMR, the relevant Rulebooks of the Financial Services Regulatory Authority (“FSRA”), the FSRA’s Guidance & Policies Manual and its ‘Guidance – Regulation of Initial Coin/Token Offerings (ICOs) and Crypto Assets under the FSMR’ (“ICO Guidance”).
2. This Guidance is applicable to the following Persons:
a. an Applicant for a Financial Services Permission (“FSP”) to carry on the Regulated Activity of Operating a Crypto Asset Business (“OCAB”) in or from the Abu Dhabi Global Market (“ADGM”);
b. an Authorised Person in respect of its carrying on the Regulated Activity of Operating a Crypto Asset Business in or from ADGM;
c. a Recognised Investment Exchange with a stipulation on its Recognition Order permitting it to carry on the Regulated Activity of Operating a Crypto Asset Business within ADGM; or
d. an Applicant/Authorised Person in respect of the use of stable-coins in or from ADGM.
3. This Guidance sets out the FSRA’s approach to the regulation of Crypto Asset a...