ADGM Launches Pioneering DLT Foundations Regime

blockchain.news:

The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has pioneered the unveiling of the Distributed Ledger Technology (DLT) Foundations Regulations 2023, marking a crucial phase in the regulatory evolution of digital assets both regionally and internationally. This innovative regime, revealed a day ago, is tailored to address the unique legal requisites of Blockchain Foundations, Decentralised Autonomous Organisations (DAOs), and the encompassing crypto industry.

The establishment of this new regime showcases a progressive milestone, aligning with ADGM’s strategy of nurturing broader blockchain and digital asset initiatives. It's aimed at fostering a transparent and efficient future across the blockchain and Web3 landscape. The DLT Foundations Regulations 2023 is perceived as a global benchmark being the world's inaugural of its kind, setting a precedent for other regions to follow suit.

The legislation is meticulously crafted to provide a robust framework for DLT Foundations and DAOs, facilitating their operation and token issuance while recognizing the distinct needs of the Blockchain industry. It’s a testament to ADGM's foresight in anticipating the industry's trajectory towards a more decentralized governance structure. This regime is also deemed suitable for traditional Foundations aspiring to augment their operations via DLT, thereby offering a unified solution for digital asset-related activities.

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM, accentuated that the DLT Foundations Regime is a monumental stride, echoing ADGM's proactive approach ingrained in extensive cross-industry dialogue and collaboration with multiple stakeholders. By reshaping the blockchain and Web3 landscape, this