The Registration Authority of Abu Dhabi’s Global Market (ADGM) has announced it has introduced the world’s first Distributed Ledger Technology Foundations regulatory regime.
The Distributed Ledger Technology Foundations Regulations 2023 are aimed at providing a comprehensive framework for DLT Foundations and Decentralised Autonomous Organisations or DAOs to enable them to operate and issue tokens recognising the unique needs of the Blockchain industry.
The new regime has been introduced in line with the Global Market’s strategy to foster initiatives in the broader blockchain and digital asset realm.
It is an innovative, purpose-built regime that addresses the unique legal requirements of Blockchain Foundations, Decentralised Autonomous Organisations and the broader crypto industry.
It will enable positive transformation across the blockchain and Web3 landscape, which will foster a more transparent and efficient future.
It sets a global benchmark and is aimed to be suitable for Blockchain Foundations, Web3 entities, Decentralised Autonomous Organisations and traditional Foundations looking to improve their operations through Distributed Ledger Technology.
It is anticipated it will revolutionise the industry by providing a unified solution for the needs of digital asset related activities and the broader Foundations landscape.
Finally, it offers an effective way to organise and promote governance while recognising the industry’s need for decentralisation.
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