Dubai FSA Updates Rulebook Modules and Consults on Crypto Token Regime
The Dubai Financial Services Authority (Dubai FSA) has set out proposals for a regulatory regime for persons wishing to provide financial services in respect of Crypto Tokens. Dubai FSA also updated certain Rulebook modules for banks, which came into force on April 07, 2022 and follow the legislative amendment proposals set out in the consultation paper numbered 141.
The updates cover General Module, Auditor Module, Authorized Market Institutions Module, and Anti-Money Laundering and Counter-Terrorist Financing and Sanctions Module applicable to financial firms, including banks, insurers, and asset managers:
- General Module (GEN) Rule-Making Instrument (No. 318) 2021, which repeals and replaces the General Module (GEN) of the Dubai FSA Rulebook with an updated version
- Auditor Module (AUD) Instrument (No. 319) 2021, which repeals and replaces the Auditor Module (AUD) of the Dubai FSA Rulebook with an updated version
- Authorized Market Institutions Module (AMI) Instrument (No. 320) 2021, which repeals and replaces the Authorized Market Institutions (AMI) module of the Dubai FSA Rulebook with an updated version
- Anti-Money Laundering, Counter-Terrorist Financing, and Sanctions Module (AML) Instrument (No. 321) 2021, which repeals and replaces the Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) of the Dubai FSA Rulebook with an updated version
The consultation on regulatory regime for crypto tokens covers the definition of crypto tokens, excluded and prohibited tokens, accepted crypto tokens, operations of a trading venue, clearing and settlement, information technology security requirements, business and operating rules, disclosures, prudential requirements, and Islamic financial services. The comment period on this consultation ends on May 06, 2022.
Related Links
Keywords: Middle East and Africa, UAE, Dubai, Banking, Regtech, Basel, Crypto Tokens, Rulebook, AML CFT, Crypto-assets, Dubai FSA
Featured Experts

María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer

Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.

Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
MNB Publishes Circular on Preparations for End of LIBORRelated Articles
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates
The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.
FSB Reports Assess NBFI Sector and Progress on LIBOR Transition
The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.