{"id":419954,"date":"2022-03-22T16:26:04","date_gmt":"2022-03-22T13:26:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/abu-dhabi-rolls-out-draft-recommendations-for-nft-trading\/"},"modified":"2022-03-22T16:26:04","modified_gmt":"2022-03-22T13:26:04","slug":"abu-dhabi-rolls-out-draft-recommendations-for-nft-trading","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/abu-dhabi-rolls-out-draft-recommendations-for-nft-trading\/","title":{"rendered":"# Abu Dhabi rolls out draft recommendations for NFT trading"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27c11df3b3a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27c11df3b3a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/abu-dhabi-rolls-out-draft-recommendations-for-nft-trading\/#%E2%80%9D_Abu_Dhabi_rolls_out_draft_recommendations_for_NFT_trading_%E2%80%9C\" >&#8221; Abu Dhabi rolls out draft recommendations for NFT trading &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Abu_Dhabi_rolls_out_draft_recommendations_for_NFT_trading_%E2%80%9C\"><\/span>&#8221; Abu Dhabi rolls out draft recommendations for NFT trading &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMWIxMTkxZjItNmYxMy00OWJkLWE0MGQtYzIyNGFjZTllMmM1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Abu Dhabi Global Market (ADGM), the emirate\u2019s free zone, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.adgm.com\/documents\/legal-framework\/public-consultations\/2022\/consultation-paper-no-1\/consultation-paper-no-1-of-2022-proposals-for-enhancements-to-capital-markets-and-virtual-assets.pdf\">published<\/a> a consultation paper on Monday titled \u201cProposals for enhancements to capital markets and virtual assets in ADGM.\u201d The document contains draft guidelines that, among other asset classes, cover nonfungible token (NFT) trading. The paper proposes that companies with a license from the free zone\u2019s financial regulator be allowed to facilitate NFT trading.<\/p>\n<p>Along with sections dedicated to traditional financial instruments, the document contains a little more than a page on virtual assets and NFTs. In this section, the free zone\u2019s chief regulator, the Financial Services Regulatory Authority (FSRA), describes NFTs as intellectual property rather than \u201cspecified investments or financial instruments.\u201d It also proposes to allow multilateral trading facilities (MTFs) and Virtual Asset Custodians (VAC) to operate NFT marketplaces. <\/p>\n<p><strong><em>Related: The crypto oasis: How the UAE became the Middle East\u2019s digital asset champion<\/em><\/strong><\/p>\n<p>The document also mentions that transactions in NFTs may trigger the requirement to comply with ADGM\u2019s Anti-Money Laundering (AML) and Sanctions Rules. <\/p>\n<p>At this point, as the document specifies, FSRA is not proposing a formal regulatory framework for NFTs. The consultation paper is open for comment until May 20, and encourages stakeholders to share their thoughts on several major questions, for example, \u201cWhat types of NFTs should be permitted to trade upon MTFs?\u201d and \u201cHow would it be best to integrate third-party NFT registries?\u201d<\/p>\n<p>ADGM is one of the United Arab Emirates&#8217; three major free economic zones that host virtual asset service providers (VASPs), and the first one to get its regulatory framework back in 2018. Last week, though, it was another of UAE\u2019s free zone \u2014 Dubai Multi Commodities Centre (DMCC) \u2014 that made the headlines by granting its freshly legislated crypto license to FTX and Binance exchanges. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/abu-dhabi-rolls-out-draft-recommendations-for-nft-trading\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Abu Dhabi rolls out draft recommendations for NFT trading &#8220; Abu Dhabi Global Market (ADGM), the emirate\u2019s free zone, published a consultation paper on Monday titled \u201cProposals for enhancements to capital markets and virtual assets in ADGM.\u201d The document contains draft guidelines that, among other asset classes, cover nonfungible token (NFT) trading. The paper&#8230;<\/p>\n","protected":false},"author":1,"featured_media":419955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMWIxMTkxZjItNmYxMy00OWJkLWE0MGQtYzIyNGFjZTllMmM1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,77146,71511,86389,73785,25460,70934,71407],"class_list":["post-419954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-uae","tag-government","tag-marketplace","tag-markets","tag-middle-east","tag-regulation","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=419954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/419955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=419954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=419954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=419954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}