{"id":48218,"date":"2023-04-21T13:34:43","date_gmt":"2023-04-21T17:34:43","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=48218"},"modified":"2023-04-21T13:34:46","modified_gmt":"2023-04-21T17:34:46","slug":"abu-dhabi-global-market-proposes-legal-framework-for-dlt-foundations","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/abu-dhabi-global-market-proposes-legal-framework-for-dlt-foundations\/","title":{"rendered":"Abu Dhabi Global Market Proposes Legal framework for DLT foundations\u00a0"},"content":{"rendered":"\n

The Registration Authority of the Abu Dhabi Global Market has published a consultation paper \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>on a new legal framework for Distributed Ledger Technology foundations.<\/p>\n\n\n\n
\"Abu<\/figure>\n\n\n\n

The Registration Authority of the Abu Dhabi Global Market (ADGM)<\/a>, an international financial center in the UAE capital, has published a consultation paper on a new legal framework for Distributed Ledger Technology (DLT) foundations.<\/p>\n\n\n\n

Key Proposals for New Regime<\/strong><\/h4>\n\n\n\n

The paper proposes a set of rules and regulations for the establishment and operation of DLT foundations, which are entities that use DLT to manage their assets and governance. <\/p>\n\n\n\n

It covers DLT foundations\u2019 aspects, such as structure, governance, tokens, voting, reporting, beneficiaries, profit, supervision, liquidation and insolvency.<\/p>\n\n\n\n

The paper suggests a DLT-friendly and protective framework that meets global and ADGM\u2019s legal norms.<\/p>\n\n\n\n

It welcomes public discussion and suggestions by Friday, May 12, 2023. After receiving the comments, the ADGM Board of Directors will enact the proposal in its final form.<\/p>\n\n\n\n

The paper suggests ADGM create a DLT-specific framework that selects the best features of foundations for DLT developers.<\/p>\n\n\n\n

For instance, the report advises DLT foundations to start with USD 25,000 and give token holders legal and voting rights.<\/p>\n\n\n\n

Key Expectations<\/strong><\/h4>\n\n\n\n

The paper also emphasizes the importance of transparency, fairness, and accountability for DLT foundations. <\/p>\n\n\n\n

It proposes that DLT foundations submit audited annual accounts and disclose relevant information to their token holders and beneficiaries. <\/p>\n\n\n\n

The Registration Authority shall supervise DLT foundations and provide clear liquidation or voluntary strike-off procedures in event of insolvency or dissolution.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Registration Authority of the Abu Dhabi Global Market has published a consultation paper on a new legal framework for Distributed Ledger Technology foundations. The Registration Authority of the Abu Dhabi Global Market (ADGM), an international financial center in the UAE capital, has published a consultation paper on a new legal framework for Distributed Ledger […]<\/p>\n","protected":false},"author":44,"featured_media":48220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[1822,197,1138],"class_list":["post-48218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-abu-dhabi","tag-defi","tag-markets"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/04\/abu-dhabi-scaled.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=48218"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/48220"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=48218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=48218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=48218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}