Abu Dhabi Global Market Registry is seeking feedback on its proposed legislative framework for distributed ledger technology

According to reports, the Abu Dhabi Global Markets (ADGM) Registry is seeking feedback on its proposed Distributed Ledger Technology (DLT) legislative framework, with the goal of disclosure, liquidation, and governance structures. ADGM is an international financial center within the United Arab Emirates (UAE) and has developed a customized licensing system for virtual asset service providers regulated by its financial regulatory authorities.

Abu Dhabi Global Market Registry is seeking feedback on its proposed legislative framework for distributed ledger technology

– Introduction
– What is the Abu Dhabi Global Markets (ADGM) Registry?
– What is Distributed Ledger Technology (DLT)?
– The ADGM Registry’s Proposed DLT Legislative Framework
– Disclosure Structures
– Liquidation Structures
– Governance Structures
– ADGM’s Customized Licensing System for Virtual Asset Service Providers
– Conclusion
– FAQs
# According to Reports, the Abu Dhabi Global Markets (ADGM) Registry is Seeking Feedback on its Proposed Distributed Ledger Technology (DLT) Legislative Framework
The advancement of technology has spurred innovation in the financial sector, leading to the creation of digital currencies such as Bitcoin and Ethereum. This has led to the adoption of Distributed Ledger Technology (DLT), also known as blockchain, by a wide range of financial institutions. In this article, we will discuss the Abu Dhabi Global Markets (ADGM) Registry’s proposed DLT legislative framework, which seeks feedback with the goal of disclosure, liquidation, and governance structures.

Introduction

The ADGM Registry is an international financial center located within the United Arab Emirates (UAE). The ADGM is dedicated to providing an efficient and effective regulatory framework for financial institutions around the world. The ADGM is committed to fostering an environment that promotes financial stability, integrity, and transparency.

What is the Abu Dhabi Global Markets (ADGM) Registry?

The ADGM Registry is responsible for regulating financial institutions that operate within the ADGM’s jurisdiction. The ADGM Registry is committed to safeguarding the interests of investors and consumers, and it works closely with financial institutions to ensure compliance with its regulatory framework.

What is Distributed Ledger Technology (DLT)?

Distributed Ledger Technology (DLT) is a digital ledger that records transactions on a decentralized network. DLT is used in cryptocurrencies like Bitcoin and Ethereum, as well as in other financial applications. DLT offers a secure and transparent way of recording transactions, which is ideal for financial institutions that require an immutable record of transactions.

The ADGM Registry’s Proposed DLT Legislative Framework

The ADGM Registry is seeking feedback on its proposed DLT legislative framework, which is designed to provide guidance on disclosure, liquidation, and governance structures. The proposed DLT legislative framework will ensure that financial institutions that use DLT comply with the ADGM’s regulatory framework.

Disclosure Structures

The proposed DLT legislative framework aims to provide clear guidance on disclosure structures for financial institutions that use DLT. The goal is to ensure transparency for investors and customers, as well as to prevent fraudulent activities. The proposed disclosure structures will require financial institutions that use DLT to disclose information such as the identity of the parties involved in the transaction, the type of asset being transacted, and the amount of the transaction.

Liquidation Structures

The proposed DLT legislative framework also seeks to provide guidance on liquidation structures for financial institutions that use DLT. The proposed liquidation structures will ensure that financial institutions that use DLT have sufficient safeguards in place to protect the interests of investors and customers in the event of an insolvency.

Governance Structures

The proposed DLT legislative framework aims to provide guidance on governance structures for financial institutions that use DLT. The proposed governance structures will ensure that financial institutions that use DLT have a robust framework in place to manage risks and maintain the integrity of the financial system.

ADGM’s Customized Licensing System for Virtual Asset Service Providers

In addition to the proposed DLT legislative framework, the ADGM has developed a customized licensing system for virtual asset service providers (VASPs) that are regulated by its financial regulatory authorities. This licensing system ensures that VASPs comply with the ADGM’s regulatory framework and that consumers are protected.

Conclusion

The ADGM Registry’s proposed DLT legislative framework seeks to provide clear guidance on disclosure, liquidation, and governance structures for financial institutions that use DLT. The proposed framework is designed to ensure that financial institutions using DLT comply with the ADGM’s regulatory framework and that consumers are protected.

FAQs

1. What is the ADGM Registry?
The ADGM Registry is responsible for regulating financial institutions that operate within the ADGM’s jurisdiction.
2. What is Distributed Ledger Technology (DLT)?
Distributed Ledger Technology (DLT) is a digital ledger that records transactions on a decentralized network.
3. What is the ADGM’s customized licensing system for virtual asset service providers?
The ADGM has developed a customized licensing system for virtual asset service providers (VASPs) that are regulated by its financial regulatory authorities.