🇦🇪 ADGM (Abu Dhabi)
Institutional-grade, common-law crypto hub with rigorous substance requirements and a fast-evolving Virtual Asset framework distinct from Dubai's VARA and DIFC
Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.
Licence type
Financial Services Permission (FSP) from the FSRA to carry on one or more 'Regulated Activities' in relation to Virtual Assets under the ADGM Financial Services and Markets Regulations (FSMR) — e.g. Operating a Multilateral Trading Facility (exchange), Providing Custody, Dealing in Investments as Principal/Agent (broker-dealer), Managing Assets, or Advising on Investments, each 'in relation to Virtual Assets.' The framework was originally branded 'Operating a Crypto Asset Business' (2018 Guidance) and has since been folded into the broader Virtual Asset regulated-activities regime under the 'Guidance – Regulation of Virtual Asset Activities in ADGM' (most recent version 10 June 2025). A related but separate activity/licence covers issuing Fiat-Referenced Tokens (FRTs, i.e. stablecoins).
Regulator
Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)
Capital requirement 🔒
Timeline to authorisation 🔒
Local substance 🔒
Application cost 🔒
Ongoing cost 🔒
Passporting 🔒
MiCA CASPs approved 🔒
Key restrictions 🔒
Recent changes
June 10, 2025: FSRA implemented major amendments — shifted from FSRA pre-approval for Virtual Assets to a notification-based process built on applicant self-assessment; introduced express prohibition on privacy tokens and algorithmic stablecoins; revised capital requirements and fees for VA firms; added product-intervention power for virtual assets. September 2025 (Abu Dhabi Finance Week): FSRA published Consultation Paper No. 10 of 2025 proposing a staking framework. Finalised Fiat-Referenced Token (FRT) framework followed, with FEES Rulebook amendments effective 1 January 2026 (published 31 October 2025). April 29, 2026: FSRA finalised the Virtual Asset staking regulatory framework after consultation. December 2025/January 2026: Binance received FSRA approval (announced 7 December 2025) to operate its global Binance.com platform in ADGM via three regulated entities, described as the first global platform-level licence of this kind under the ADGM framework, operations beginning 5 January 2026.
Difficulty rating 🔒
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