Odaily News The Dubai Financial Services Authority (DFSA) announced revisions to its cryptocurrency token regime to strengthen and advance the token regulatory framework within its special economic zones. The DFSA is an independent regulator in the United Arab Emirates (UAE) that regulates entities registered in the Dubai International Financial Center (DIFC), a special economic zone in the country. On June 3, the DFSA said it had revised its crypto token regime to reflect changes in consultation paper 153, which was published in January 2024. The revisions involve several important areas, including funds that invest in crypto tokens and the identification process for crypto tokens. On the fund side, the amendment affects the ability to offer units of external and foreign funds that invest in recognized crypto tokens. Previously, the DFSA restricted fund activities involving crypto tokens. The DFSA said in a recent consultation paper that funds and asset managers believe the regime is too strict. (Cointelegraph)