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Abu Dhabi proposes regulatory framework for fiat currency reference tokens
Abu Dhabi's financial regulator plans to regulate the Fiat Reference Token (FRT), a stablecoin, in response to calls from stakeholders seeking to issue the token. The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has said that FRT issuers will be subject to operational restrictions and requirements. The FSRA recommends that the market value of reserve assets be at least equal to the par value of all FRTs in circulation at the end of each business day. FRTs shou...
2024-08-21 10:15:33
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