BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Regulation

Trailblazing Regulations Unveiled by Abu Dhabi Global Market to Govern Web3 Organizations

by Dan K
Nov 2, 2023 - 3:30 pm
in Regulation
ADGM Chairman Ahmed Jasim Al Zaabi discussing the DLT Foundations Regime introduced in Abu Dhabi for fostering blockchain innovations.

A Regulatory Milestone

The Abu Dhabi Global Market (ADGM) has propelled itself to the forefront of blockchain regulation by unveiling a comprehensive regulatory framework aimed at governing Web3 organizations. Marked as a “purpose-built” initiative, the Distributed Ledger Technology (DLT) Foundations Regulations encompass the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs), and traditional foundations venturing into DLT. This move accentuates ADGM’s continuous endeavor to consolidate its position in the blockchain and digital asset arena.

Detailed Framework Unveiled

The regulations facilitate the establishment of a “DLT Foundation” through the submission of a signed charter. This charter should articulate the initial assets of the foundation, its governance structure, and details on token issuance, if applicable. The submission should also include the organization’s white paper, tokenomics paper, and a technical document termed a DLT Framework.

Governance and Transparency

A pivotal requirement is the disclosure of key figures within the foundation, although these names will remain confidential. The foundation must bear a name ending with “DLT Foundation” and maintain a council comprising two to 16 members for managerial and administrative oversight. However, the foundation will not be permitted to engage in activities licensable by the ADGM Financial Services Regulatory Authority, with its token holders acknowledged as beneficiaries.

A Leap Towards Web3 Growth

Dated October 2 and publicized on November 2, the regulations reflect ADGM’s strategic ambition to elevate its profile in the blockchain domain. The establishment of a structured regulatory environment is envisaged to foster transparency and efficiency, setting global benchmarks in the blockchain and Web3 landscape. ADGM’s move is synergistic with previous initiatives like the $2 billion Hub71+ Digital Assets project, which underscores the region’s commitment to fostering Web3 growth.

Embracing the Digital Future

ADGM’s Chairman, Ahmed Jasim Al Zaabi, expressed that the new regulations signify a transformative step towards a future enriched with enhanced transparency and efficiency. With a burgeoning network of crypto service providers and foundations, Abu Dhabi and the ADGM are unequivocally positioning themselves as pivotal hubs in the global blockchain ecosystem.

Tags: RegulationUAEWeb3
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

SUS Capitol building with digital crypto symbols, symbolizing upcoming regulatory discussions in Congress.

US Lawmakers Expected to Propose Crypto Regulation by November — Anthony Scaramucci

February 4, 2025

Anthony Scaramucci suggests US lawmakers may propose crypto regulations by Nov 2024 to gain support from the industry...

Former Binance CEO Changpeng Zhao warning about crypto security exploit affecting Apple devices

CZ Warns Crypto Community of New Exploit Targeting macOS and iPhone Users

November 21, 2024

CZ warns the crypto community of zero-day exploits on Intel Macs and iPhones, urging updates to protect sensitive...

Cathie Wood of ARK Invest discusses the impact of SEC deregulation on the US economy

Defanging the SEC: How Regulatory Shifts Could Turbocharge the US Economy

November 11, 2024

Cathie Wood foresees US economic growth through SEC deregulation, tech innovation, and pro-crypto policies under Trump. Emerging tech...

Bolivian bank Banco Bisa launches a USDT custody service, enabling clients to buy, sell, and transfer USDT

Bolivia Embraces Crypto Momentum: Banco Bisa Launches USDT Custody Service

October 28, 2024

Bolivia's Banco Bisa introduces USDT custody service, allowing clients to securely buy, sell, and transfer stablecoins within a...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise