The Registration Authority of the Abu Dhabi Global Market has launched the Regulations for Regulating Enterprise Distributed Ledger Technology for the year 2023, which represents a milestone in the development of regulatory frameworks for digital assets throughout the region and the world.

According to a press release from the Abu Dhabi Global Market, today, Thursday, the new system is designed to provide a comprehensive framework for institutions working in the field of distributed ledger technology and independent decentralized organizations to enable them to issue and operate tokens, in a way that meets the needs and requirements of the blockchain sector.

The statement indicated that the new system is in line with the market strategy aimed at encouraging and enhancing initiatives in the field of blockchain technologies and digital assets in general.

He stressed that the system meets the aspirations of blockchain institutions, third-generation Internet companies, independent decentralized institutions, and other existing institutions that seek to enhance their operations through distributed ledger technology.

The new system will contribute to creating a qualitative shift in the sector by providing a unified solution that meets the needs of activities related to digital assets and institutions in general, paving the way towards a more transparent and efficient future.

The enterprise DLT system also takes into account the great potential of modern technology, provides effective means of organizing and strengthening governance and recognizing the sector's need for decentralization.

The regulations for regulating distributed ledger technology for institutions came after a consultation paper to study the opinions and contributions of leaders in the distributed ledger technology sector and discuss ways to strengthen regulations and laws. These regulations will undoubtedly enhance the position of the Abu Dhabi Global Market as a leading global center in the field of regulating digital assets.

It is noteworthy that distributed ledger technologies have witnessed rapid growth in recent years, as these technologies have today become the main focus of the global digital assets sector.

In turn, ADGM is committed to promoting technical innovation and supporting crypto-asset initiatives.