Crypto Law Profile
ADGM’s FSRA regulates digital-asset activities through an active framework covering Virtual Assets, FRTs, Digital Securities, derivatives, funds, custody, trading venues, and staking.
The UAE ADGM Digital Assets Framework is an active regulatory framework administered by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market. It is not a single statute. The framework is built through the Financial Services and Markets Regulations 2015, FSRA rulebooks, official guidance, and notices of publication, and it has evolved from the original 2018 crypto-asset legislative framework into a broader digital-assets regime.
As of June 3, 2026, ADGM presents the framework as covering Virtual Assets, Fiat-Referenced Tokens (FRTs), Digital Securities, and derivatives and funds linked to digital assets. Financial services entities that wish to conduct these activities in or from ADGM generally need a Financial Services Permission from the FSRA under the applicable financial-services regulations.
The framework applies across several asset and activity categories rather than treating all tokens as a single product. Virtual Assets are addressed as digitally transferable value used for exchange, account, or store-of-value functions, while digital tokens that exhibit the characteristics of a security are treated as securities. FRTs are addressed separately through dedicated rules for issuance and regulated activities involving tokens referencing fiat value.
ADGM also regulates derivatives over digital assets and collective investment funds investing in digital assets through existing FSRA categories for derivatives and fund units. This activity-based structure means the same underlying token may receive different treatment depending on the product, function, service, and regulated activity involved.
The ADGM framework is directed primarily at FSRA-authorised market operators, multilateral trading facilities, brokers, custodians, asset managers, intermediaries, FRT issuers, and other firms conducting regulated activities involving digital assets. The FSRA’s 2020 amendments moved the virtual-asset regime from a bespoke “Operating a Crypto Asset Business” model to the underlying regulated activities, including custody, trading venue operation, dealing, and other financial services.
Under the updated Virtual Asset guidance, authorised persons conducting VA regulated activities must work with Accepted Virtual Assets and maintain governance processes for asset assessment, website publication, and ongoing monitoring. The guidance identifies regulatory requirements across capital, anti-money laundering and counter-financing controls, technology governance, virtual-asset risk disclosures, market-abuse controls, transaction reporting, custody, MTF operations, application processes, and fees.
The June 10, 2025 amendments streamlined the process for accepting Virtual Assets in ADGM, refined capital requirements and fees, introduced a specific product-intervention power for Virtual Assets, and confirmed the FSRA’s approach to the prohibition of privacy tokens and algorithmic stablecoins within ADGM.
The FRT framework developed in stages. FSRA rules for FRT issuance were published in December 2024. On October 31, 2025, the FSRA finalized amendments for regulated activities involving FRTs, including its approach to accepting FRTs for use in ADGM, expanding the activities that may be carried on in relation to FRTs, and rules for authorised persons that hold or control client FRTs. Those amendments took effect on January 1, 2026.
On April 29, 2026, the FSRA finalized a regulatory framework for staking Virtual Assets after consultation. The framework identifies categories of authorised persons permitted to conduct staking activities using client VAs and sets requirements governing such activities, including targeted changes on non-proof-of-stake models with similar characteristics, reward limits, key terms, client disclosures, and client reporting.
| Date | Event | Status relevance |
|---|---|---|
| June 25, 2018 | Initial Crypto Asset Legislative Framework listed in ADGM notices. | Foundation of the framework. |
| February 24, 2020 | FSRA updated terminology and activity mapping for Virtual Assets. | Major framework revision. |
| June 10, 2025 | FSRA implemented Digital Asset Regulatory Framework amendments. | Immediate VA framework update. |
| January 1, 2026 | FRT regulated-activity amendments took effect. | Stablecoin-related expansion. |
| April 29, 2026 | FSRA finalized the VA staking framework. | Latest verified digital-asset update. |
This profile should be reviewed against the latest ADGM and FSRA Rulebook notices before publication because the framework is updated through amendments, guidance, consultation outcomes, and notices rather than a single consolidated digital-assets statute.
Digital-asset firms carrying on covered financial services in ADGM generally need a FSRA Financial Services Permission under applicable regulations.
VA firms must assess Accepted Virtual Assets under COBS criteria, publish supported assets and continuously monitor whether criteria remain met.
The framework addresses market abuse, financial crime, investor protection, technology governance, custody and exchange-operations risks.
June 2025 amendments added a VA product-intervention power and confirmed the FSRA approach prohibiting privacy tokens and algorithmic stablecoins.
FRT rules cover acceptance, expanded regulated activities involving FRTs, client FRT controls and amended requirements for FRT issuers.
The April 2026 framework identifies authorised-person categories permitted to stake client VAs and sets terms, disclosure, reporting and reward limits.
ADGM notices list FSRA Rules and Regulations & Rules for the Crypto Asset Legislative Framework.
FSRA announced amendments moving from OCAB to underlying regulated activities and changing terminology to Virtual Asset.
FSRA rules and regulation notices addressed Fiat-Referenced Tokens.
FSRA implemented VA acceptance, capital, fee, product-intervention and token-restriction changes with immediate effect.
FSRA finalized amendments governing regulated activities involving FRTs; changes took effect Jan. 1, 2026.
FSRA finalized the VA staking framework after Consultation Paper No. 10 of 2025.
Asset managers, Brokers, Custodians, Exchanges, Stablecoin issuers, Token issuers
Derivatives, Digital securities, Fiat-referenced tokens, Funds, Virtual assets
Framework profile, not a single statute. Review against the latest FSRA Rulebook notices before publication because ADGM updates digital-asset rules through amendments, guidance, and notices.
