Dubai DFSA: Studying a UK Law Commission’s Three-Year Plan for Digital Assets

Odaily News According to Jacques Visser, Director of Legal Affairs at the Dubai International Financial Center (DIFC), in addition to launching the Digital Assets Law, the Dubai Financial Services Authority (DFSA) is more concerned about cross-border regulation. Dubai is one of the first jurisdictions to propose a "Statement of Basic Principles for Defining What Digital Assets Are". It continues to seek extensive consultations around the world to address cross-border regulatory issues for virtual assets in accordance with international standards. It is currently carefully studying a three-year digital asset plan by the UK Law Commission. Ken Coghill, Director of Innovation and Technology Risk Regulation at the Dubai Financial Services Authority, said that Dubai's regulators will listen to and refer to industry opinions, and based on this, review existing regulations, promote regulatory progress, and establish more realistic and effective regulations.