Jordan Takes Bold Step with New Crypto Regulations and Blockchain Plans

Jordan has announced plans to develop a comprehensive regulatory framework for virtual and digital assets within a year, aiming to align with global standards and boost its digital economy.

The initiative will be led by the Jordanian Securities Commission (JSC) and supported by the National Council for Future Technology, with a focus on creating the necessary legal and technological infrastructure to oversee crypto trading platforms and virtual asset activities.

A ministerial committee, headed by the Minister of Digital Economy and Entrepreneurship and involving officials from the Central Bank, JSC, and National Cybersecurity Center, will manage the challenges and guide the implementation of these regulations.

This move comes as Jordan seeks to address gaps flagged by the Financial Action Task Force (FATF), which placed the country on its grey list in 2023 due to concerns over virtual asset risks and money laundering vulnerabilities.

In parallel, Jordan has been advancing its blockchain strategy, set for full implementation by 2025. Approved in late 2024, the strategy aims to modernize public services, enhance data security, and foster innovation in sectors such as health, education, and entrepreneurship. By integrating blockchain technology, the government hopes to streamline processes, reduce costs, and encourage growth in its telecom and IT industries, aligning with the nation’s broader economic vision.

These initiatives underscore Jordan’s commitment to embracing digital transformation while addressing regulatory and security challenges in the rapidly evolving crypto landscape.