Home Technology Digital Transformation ADGM introduces the world’s first DLT Foundations Regime This newly implemented legislative structure is designed to provide a comprehensive framework for DLT Foundations and decentralised autonomous organisations by Gulf Business November 2, 2023 Image: ADGM The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has officially released the Distributed Ledger Technology (DLT) Foundations Regulations 2023. This is a key step in the evolution of digital assets regulatory frameworks across the region and at an international level. This newly implemented legislative structure is designed to provide a comprehensive framework for DLT Foundations and decentralised autonomous organisations (DAOs), enabling them to operate and issue tokens recognising the unique needs of the blockchain industry. This new regime comes in line with ADGM’s strategy to foster initiatives in the broader blockchain and digital asset realm. By setting a global benchmark as the world’s first of its kind, this regulatory framework is designed to be suitable for blockchain foundations, Web3 entities, DAOs, and traditional foundations seeking to enhance their operations through DLT. It is poised to revolutionise the industry by providing a unified solution for the needs of digital asset-related activities and the broader foundations landscape, providing the path toward a more transparent and efficient future. ADGM’s DLT Foundations Regime offers an effective means to organise and promote governance whilst recognising the industry’s need for decentralisation. The regime’s enactment followed a public consultation with DLT industry participants to obtain user feedback and enhance the regulations. ADGM is rising as a global pioneer in the regulation of digital assets Accordingly, this framework is set to further strengthen ADGM’s position as a global pioneer in the regulations of digital assets. Ahmed Jasim Al Zaabi, chairman of ADGM, said, “Abu Dhabi is rapidly emerging as the destination of choice for global players at the forefront of digital asset development. The introduction of the DLT Foundations Regime marks a revolutionary step forward, reinforcing ADGM’s commitment to a proactive approach rooted in extensive cross-industry dialogue and collaboration with various stakeholders. The new regime serves as a driving force for positive change in the digital assets sector. By transforming the blockchain and Web3 landscape, we are moving towards a future characterised by setting global benchmarks with enhanced transparency and efficiency.” Digital ledger technology has progressed rapidly in recent years, and the technology is now at the heart of the global digital assets sector. ADGM, as a leading IFC, remains committed to championing technological innovation and supporting crypto initiatives. Tags Abu Dhabi ADGM Digital Assets News regulatory framework You might also like US private credit firm Golub Capital to set up base in Abu Dhabi ‘Make Bitcoin Great Again’: Eric Trump attends Abu Dhabi crypto gathering Space42 teams up with ICEYE to manufacture SAR satellites in UAE Polen Capital to open Abu Dhabi office in Middle East expansion push