{"id":135976,"date":"2024-08-21T21:30:17","date_gmt":"2024-08-21T18:30:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135976"},"modified":"2024-08-21T18:45:52","modified_gmt":"2024-08-21T15:45:52","slug":"abu-dhabi-to-regulate-fiat-backed-tokens-seeks-public-feedback","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/abu-dhabi-to-regulate-fiat-backed-tokens-seeks-public-feedback\/","title":{"rendered":"Abu Dhabi to Regulate Fiat-Backed Tokens, Seeks Public Feedback"},"content":{"rendered":"

The FSRA has invited<\/strong><\/a> public feedback on its proposed regulatory framework, which includes operational restrictions and requirements for FRT issuers.<\/p>\n

Key elements of the proposal include ensuring that the market value of reserve assets matches or exceeds the face value of all FRT in circulation at the end of each business day, with daily mark-to-market valuations. Issuers of multiple FRTs must maintain separate pools of reserve assets for each token.<\/p>\n

FRTRA has set a public comment deadline of October 3, 2024, after which FSRA will finalize the regulatory framework. The proposal defines FRTs as digital assets managed through distributed ledger technology, with their value tied to a single fiat currency and redeemable on demand.<\/p>\n