Abu Dhabi (ADGM)
The Abu Dhabi Global Market, supervised by the FSRA, operates one of the longest-established institutional crypto frameworks in the region, with a dedicated DLT Foundations regime.
Scope, licensing and operational frame.
Scope of Regulation
The FSRA Crypto Asset framework regulates Multilateral Trading Facilities, custodians, brokers and advisors operating from ADGM.
Who requires a licence
Exchanges, custodians, brokers, advisors, fund managers and issuers operating from ADGM.
Restricted activities
Unlicensed activity; certain privacy-enhancing assets are subject to elevated scrutiny.
Permitted activities
Spot trading, derivatives under defined permissions, custody, fund management, advisory.
Practical & advisory implications
Substance, fit-and-proper governance, client asset segregation and rigorous AML/CFT controls are required.
Evolution at a glance.
FSRA publishes Crypto Asset framework — one of the earliest globally.
Custody and brokerage permissions expanded.
DLT Foundations regulation enacted.
Tokenisation and fund frameworks expanded; FRT regime introduced.
Recent regulatory signals.
FSRA refines DLT Foundations supervisory guidance
Updated AML/CFT expectations for VASPs in ADGM
"ADGM remains one of the most institutionally credible crypto regulators globally."