Abu Dhabi Global Market Puts the DLT in Regulation Introducing the Comprehensive Foundations for a Blockchain Revolution

ADGM Implements Comprehensive DLT Foundations Regulations

The Abu Dhabi Global Market (ADGM) Registration Authority has just dropped some regulations that are so comprehensive, it’s like they wrapped blockchain foundations, Web3 entities, and decentralized autonomous organizations (DAOs) in a tight regulatory bear hug! They claim that their framework is the first of its kind, purpose-built for the world of Web3. Talk about blazing trails!

So, what do these regulations actually do? Well, they allow the creation of something called a “DLT Foundation.” It’s like a foundation that supports blockchain projects from the sidelines, providing financial and other forms of support without direct involvement. It’s like the ultimate hype man, cheering from the sidelines while the blockchain project takes center stage.

But wait, there’s more! To be recognized as a DLT Foundation, all you have to do is submit a signed charter with a description of your initial assets and details about governance and token issuance. Oh, and don’t forget to attach your white paper, tokenomics paper, and a link to a technical document called a DLT Framework. It’s like preparing a superhero dossier for the blockchain world!

But that’s not all! Your foundation has to have a name that ends with “DLT Foundation” and disclose the names of its key figures. Don’t worry, those names won’t be made public, so you can still enjoy your anonymity like a secret agent fighting cybercrime. And hey, you’ll also need to have a council of between two and sixteen members for all the managerial and administrative stuff. Because let’s face it, even superheroes need a team to get things done.

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Oh, and here’s a fun twist – a foundation won’t be allowed to carry out activities licensable by the ADGM Financial Services Regulatory Authority. So no moonlighting as a licensed superhero, I’m afraid. But don’t worry, you still have some superpowers! Your token holders will be treated as beneficiaries, so they’ll get to enjoy the perks while you save the day.

Now, let’s talk about the date – these regulations were dropped on Nov. 2, but they were dated Oct. 2. I guess they time-traveled forward to make sure everything was ready before going public. Talk about efficiency!

And speaking of efficiency, the ADGM is all about raising its profile in the blockchain and digital assets world. They’ve been on this mission since they opened in 2015, dropping regulations on cryptocurrency in 2018. They’re like the cool kids in school, strutting their stuff and saying, “Look at me, I’m blockchain famous!”

But wait, there’s more! ADGM resident Hub71 created this crazy $2 billion project called Hub71+ Digital Assets to encourage Web3 growth. I mean, they’re just throwing money around like confetti at a party. First Abu Dhabi Bank even joined the fun. It’s like a Wall Street takeover, but in the land of sand dunes and camels.

And let’s not forget about all the other crypto service providers and foundations that call Abu Dhabi and the ADGM their home. It’s like a vibrant community of blockchain enthusiasts, building a digital oasis in the desert.

Alright, my fellow digital asset investors, it’s time for you to dive into these regulations. Just remember, regulations can be like superhero costumes – they make you look good and keep you in check. So, suit up and explore the brave new world of Web3 with the ADGM leading the way!

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