Abu Dhabi financial regulator may create framework for virtual currencies:
"The regulator of Abu Dhabi’s international financial centre said it could create rules for exchanges handling virtual currencies, in a sign that authorities in the United Arab Emirates may allow trade in cryptocurrencies such as bitcoin to develop. The Financial Services Regulatory Authority (FSRA) is considering whether to establish a framework for virtual currency exchanges, the FSRA, which supervises the Abu Dhabi Global Market (ADGM), said on Sunday. “In considering such a framework, the FSRA intends to consult and work closely with industry participants and relevant professional bodies,” the regulator said. Previously, regulators in the UAE had expressed scepticism about cryptocurrencies, without going as far as trying to enforce an outright ban on them."
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