Qatar is vigorously establishing a digital asset regulatory framework, changing its hardline stance on cryptocurrencies

Odaily News Qatar's tough stance on cryptocurrencies is currently shifting, and it is vigorously establishing a regulatory framework for digital assets. Qatar banned Bitcoin trading in 2018, but the country has recently been cautiously reconsidering its approach. Last year, Qatar's financial regulator proposed a framework to regulate investment tokens backed by tangible assets. The Qatar Financial Center Regulatory Authority (QFCRA) and the Qatar Financial Center Authority (QFCA) collaborated to develop this digital asset framework to support Qatar's digital economy strategy. They sought industry feedback to refine the proposed regulations, and the final legislation is expected to be introduced in the fourth quarter of 2024. In addition, the Qatar Financial Center has also established a digital asset laboratory to encourage innovation in the financial and digital asset fields. (Decrypt)