The National, 13 April 2026: The UAE’s Capital Market Authority has issued a robust Virtual Assets Framework, establishing a specialised regulatory regime governing the virtual-asset sector.

The framework consists of five core modules:

• General Requirements – overarching obligations for virtual-asset providers.
• Conduct of Business – licensing, governance, compliance and risk-management rules.
• Alternative Trading System (ATS) – dedicated governance for trading platforms, covering virtual and tokenised securities.
• Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) – targeted safeguards.
• Prudential Requirements – capital adequacy, client protection and operational resilience.

The framework expands regulated activities from three to eight, including:

1. Dealing in virtual assets as principal
2. Dealing in virtual assets as agent
3. Providing custody
4. Arranging custody
5. Arranging investment deals
6. Providing investment advice
7. Portfolio management
8. Operating a multilateral trading facility

A dedicated ATS module now regulates trading venues for virtual assets and tokenised securities, reflecting market convergence and evolving business models.

The CMA emphasised that the framework enhances investor protection, market integrity, and innovation, aligning with IOSCO and FATF standards, and upholding the principle: “same activity, same risk, same regulatory outcome”

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