Dubai DIFC Shifts Crypto Token Vetting to Licensed Firms

The Dubai Financial Services Authority (DFSA) has updated its Crypto Token Regulatory Framework, transferring the responsibility for assessing the suitability of crypto tokens from the regulator to licensed companies operating within the Dubai International Financial Centre (DIFC). Effective Monday, firms dealing with crypto tokens must ensure they meet the DFSA's suitability criteria, and the DFSA will cease maintaining a list of recognized tokens. DFSA's Charlotte Robins stated this change reflects a move toward a more flexible, principles-based model. Although no specific assets are explicitly banned, privacy-focused tokens like Monero (XMR) and Zcash (ZEC) may face heightened scrutiny from internal compliance teams. This DIFC framework operates under a common-law system separate from Dubai's onshore regulator, VARA, which explicitly banned anonymity-enhanced cryptocurrencies in 2023, highlighting the fragmented regulatory landscape across the UAE.

(Source：Cointelegraph)