Dubai Financial Services Authority Plans to Update Crypto Regulatory Rules in November
On May 26, TuoniaoX.com reported that Dubai Financial Services Authority Deputy Director Elisabeth Wallace stated that DFSA plans to update cryptocurrency rules, which will take effect in the city's business center starting in November, with the rules potentially being released later this year. Wallace emphasized that global regulators need to strengthen mutual dialogue to prevent bad actors from exploiting loopholes in crypto regulations.
On May 26, TuoniaoX.com reported that Dubai Financial Services Authority Deputy Director Elisabeth Wallace stated that DFSA plans to update cryptocurrency rules, which will take effect in the city's business center starting in November, with the rules potentially being released later this year. Wallace emphasized that global regulators need to strengthen mutual dialogue to prevent bad actors from exploiting loopholes in crypto regulations.
She noted that many cryptocurrency companies tend to operate a wide range of activities under one umbrella, which is indeed concerning to regulators. "They span across the entire world, and as regulators, we need to communicate more with each other in this field, because there may be quite a few gaps, and we have already seen many bad actors trying to fill some of these gaps," Wallace said.