A Paper On Crypto Assets-The Abu Dhabi Securities Exchange (ADX) has released a paper on cryptocurrency and blockchain. Which is aimed at creating the infrastructure for issuing transactions with cryptocurrency-based assets and making easier possibilities for implementation of distributed ledger technologies in The Emirates, as reported by the Emirati government news agency WAM on Nov. 6.
Abu Dhabi Securities Exchange
The paper was released by the Abu Dhabi Securities Exchange (ADX). Furthermore, it points out its views on a regulatory framework for cryptocurrencies and digital assets. With the cooperation of the Emirate’s Central Securities Depository. And also under the auspices of the International Securities Service Association.
The major task assigned to the organization is to diagnose and identify the technical aspects. And operations involved in the creation of a safe and efficient environment. Similarly which is for both the issuers of these assets and potential investors. Ensuring they fall under the auspices of the International Securities Service Association.
According to ADX CEO Rashed Al Blooshi, the exchange “continues its efforts to manage the transition from conventional assets to more encrypted assets, which are witnessing major and rapid development in the region.”
A Paper On Crypto Assets-He added that ADX is involved in developing new innovative technologies for the advancement of fintech firms which are related to crypto assets. He also emphasized the importance of market infrastructure improvement. And the development of governance standards in order to increase investor confidence.
“Financial market infrastructure plays a pivotal role in supporting crypto markets, offering investor protection, preventing market fragmentation, as well as making it possible for financial institutions to provide advanced services in the field of crypto assets,”
-ADX CEO Rashed Al Blooshi
Many countries around the world are in search of the best regulatory measures to deal with cryptocurrencies within their economies. While some countries have completely banned it, other countries are working hard to find the best and securest business practices that the public must follow with digital assets.