The United Arab Emirates Banks Federation (UBF) and the Abu Dhabi Global Market (ADGM) hosted a joint forum on crypto assets and fintech, the UAE’s official news outlet Emirates News Agency reported on March 17.
Per the report, the event was held in ADGM in collaboration with the UBF Compliance Committee and aimed to bring together industry specialists to discuss the challenges and opportunities facing fintech and crypto assets.
Moreover, the overall topics discussed at the forum reportedly ranged from ADGM’s crypto assets regulations and supervisory approach to how banks and financial regulators can jointly develop processes and procedures to ease crypto asset regulatory risks. The report also quotes UBF Chairman Abdul Aziz Al-Ghurair as saying:
“Given the rapid emergence of new FinTech such as cryptocurrencies and other crypto assets, it is essential that we develop frameworks and regulations that govern these technologies and developments.”