The ADGM Financial Services Regulatory Authority (FSRA) announced a set of enhancements to its digital asset regulatory framework, including refinements to its Virtual Asset (VA) regime, a proposed framework for VA staking, and finalised rules on the acceptance and use of Fiat-Referenced Tokens (FRTs) in ADGM. Changes to the VA framework refine the process for accepting VAs as Accepted Virtual Assets in ADGM, adjust capital requirements and fees for VA firms, introduce a specific product intervention power for VAs, and expand the investment scope for Venture Capital Funds. The VA staking proposal, published in September 2025, sets out which categories of Authorised Persons would be permitted to conduct staking activities using clients’ VAs, with consultation feedback currently under review. For FRTs, amendments finalised in October 2025 build on the December 2024 issuance framework and detail the FSRA’s approach to accepting FRTs for use in ADGM, expanding the regulated activities that may be carried on using FRTs and addressing emerging FRT business models through risk-based and proportionate requirements for Authorised Persons. The finalised FRT amendments take effect on 1 January 2026.
ADGM Financial Services Regulatory Authority 2025-12-10
ADGM Financial Services Regulatory Authority enhances virtual asset regime and finalises fiat-referenced token rules effective 1 January 2026
The ADGM Financial Services Regulatory Authority announced enhancements to its digital asset regulatory framework, including refinements to the Virtual Asset regime, a proposed framework for VA staking, and finalised rules on Fiat-Referenced Tokens (FRTs). Changes include adjustments to capital requirements for VA firms, expanded investment scope for Venture Capital Funds, and specific product intervention powers. Effective 1 January 2026, the FRT amendments expand regulated activities and address emerging business models with risk-based requirements.