Dhaher bin Dhaher Al Muhairi, CEO of the Abu Dhabi Global Market Authority, confirmed that the market is studying a new legal framework for activities related to tokens and digital currencies. The proposed aspects of the target framework, which enhances the market position in terms of digital currency activities and supports the leadership of Abu Dhabi and the country in the crypto-asset sector.
Al-Muhairi indicated in an exclusive interview that the market has become an ideal environment to attract investments and companies specialized in the financial sector and technology activities, as the number of licenses granted by the market by the end of 2022 exceeded the barrier of 6,500 companies, while the market aims to maintain a growth rate between 15 and 20% during the current year. The size of the market, including the number of licenses, existing companies, and the volume of assets managed through market activities.
Al-Muhairi revealed the completion of the market’s application of the metaverse mediation system through the litigation activities practiced by the arbitration center in the market, as the Abu Dhabi Global Market represents the first destination for applying the use of metaverse in the activities of virtual courts, in order to achieve a quantum leap in the adaptation of technology with the start of receiving cases in this regard, while he emphasized Continuity of the market's commitment to developing regulatory frameworks to monitor the activities of companies in a way that enhances the state's efforts towards combating the phenomenon of money laundering and drying up terrorist financing activities, especially with the clear expansion in attracting capital and the desire of many companies to take the Abu Dhabi Global Market as a front to expand its business locally and in the region