Guidelines | Regulation of Virtual Assets and Virtual Assets Services Providers

Introduction

1.

Securities and Commodities SCA “SCA” issues these guidelines under the Cabinet Decision No. 111 of 2022 Concerning the Regulation of Virtual Assets and their Service Providers “Cabinet Decision”, the Chairman of the SCA’s Board of Directors’ The Chairman of the SCA’s Board of Directors Decision No. 13/R.M of 2021 regarding the Rulebook for Financial Activities and Adjustment Mechanisms («Rulebook»), and The Chairman of the SCA’s Board of Directors’ Decision No. 26/R.M of 2023 on the Regulation of the Virtual Asset Platform Operator. They shall be read along with the referred Decisions.

2. 

These guidelines shall apply on:

- Virtual assets VAs;

- Virtual Assets Services Providers.

3.

These guidelines specify SCA’s approach to regulating the use of virtual assets as an investment instrument, if they are used in the state, with the exception of financial free zones. These guidelines shall apply to virtual asset platform operator ,safe custody of virtual assets financial consulting in virtual assets , managing portfolio of virtual assets, virtual assets broker, virtual assets dealer and a...