The Dubai Financial Services Authority, or DFSA, is continuing its efforts to create a standardized framework for cryptocurrency regulations in the megacity.
According to a DFSA press release issued on Monday, Dubai’s financial regulator has called on members of the public to submit comments on its proposed regulations for cryptos deemed to be security tokens.
The public comments phase of the process will last for 30 days and is part of the modalities for instituting the DFSAs Framework for Regulating Security Tokens.
Dubais security token infrastructure focuses on providing regulatory clarity across three major areas of concern. The first part deals with creating a regulated framework for offering and trading digital securities to investors including retail buyers.
The DFSA is prioritizing quality control protocols to protect retail investors with security token issuers complying with strict disclosure requirements in their prospectuses.
