The world’s first Distributed Ledger Technology (DLT) Foundations Regulations 2023 have been formally introduced by the Registration Authority (RA) of Abu Dhabi Global Market (ADGM). This is a major step towards developing regulations for digital assets on a regional and global level.
The purpose of this new legislation is to provide a complete framework that will enable DLT Foundations and Decentralized Autonomous Organizations (DAOs) to function and issue tokens while taking into account the particular needs of the blockchain sector. With new legislation, ADGM hopes to assist efforts in the larger blockchain and digital asset sectors.
Blockchain Foundations, Web3 companies, DAOs, and conventional Foundations wishing to enhance their operations through the use of DLT will all profit from these regulations.
By providing a uniform solution for activities connected to digital assets and the larger Foundations landscape, this framework is anticipated to completely change the industry and usher in a more efficient and transparent future.
The DLT Foundations Regime by ADGM recognizes the industry’s demand for decentralization and uses technology to develop a workable method of managing and governing these organizations. ADGM’s position as a global leader in regulating digital assets will be further cemented with the development of these regulations, which were formulated following public consultation and feedback from DLT sector participants.
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