Qatar Unveils New Digital Assets Framework

The Qatar Central Bank, along with the Qatar Financial Centre Authority and the Qatar Financial Centre Regulatory Authority, has unveiled a new regulatory framework for digital assets within the Qatar Financial Centre (QFC).

This initiative aims to create a clear and comprehensive structure for the management and regulation of digital assets, including aspects such as tokenization, property rights, and smart contracts.

The QFC Digital Assets Framework 2024, part of the Third Financial Sector Strategic Plan, seeks to establish a secure and transparent environment that meets international standards. It is designed to encourage trust among users and industry players by providing robust guidelines for asset management and technology infrastructure.

The framework’s development involved extensive collaboration with 37 domestic and international organizations from various sectors. This effort complements the QFC Digital Assets Lab, which has been operational since October 2023 and has already supported over twenty fintech startups in refining their digital asset offerings.

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Qatar Central Bank Governor H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani highlighted that this framework represents a significant step toward achieving the goals of Qatar’s Third Financial Sector Strategy and its broader digital transformation objectives. Yousuf Mohamed Al-Jaida, CEO of QFC, noted that the new regulations are expected to attract both local and global participants, enhancing the competitiveness of Qatar’s financial sector.

Alexander Stefanov