• Qatar Financial Centre (QFC) has released a comprehensive regulatory framework for digital assets
• The framework establishes rules for tokenization processes, legal recognition of property rights in tokens, custody arrangements, transfer and exchange, and smart contracts
• The digital assets framework aligns with Qatar’s Third Financial Sector Strategy aimed at embracing emerging technologies to accelerate digital transformation
The Qatar Financial Centre (QFC) has released a comprehensive regime for regulating and creating digital assets. The new framework aims to provide a secure and transparent ecosystem for digital assets within Qatar.
Overview of the QFC Digital Asset Framework
- Establishes standards for asset tokenization and recognizes property rights in tokens and underlying assets
- Includes provisions for custody arrangements, transfer and exchange of tokens
- Provides legal recognition of smart contracts
- Adheres to international standards to ensure trust and confidence
Supporting Qatar’s Digital Transformation
- The framework supports Qatar’s Third Financial Sector Strategy launched in 2023
- Aims to accelerate digital transformation by embracing emerging technologies
- Developed through collaboration between the QFC and 37 domestic and international organizations
Reactions to the Regulatory Framework
- Qatar Central Bank Governor believes the framework will bring opportunities to Qatar’s financial sector
- Over 20 startups have joined the QFC’s Digital Assets Lab since its launch to develop and test products
The new digital asset rules mark a milestone in Qatar’s efforts to build a thriving ecosystem for crypto and blockchain innovation. By providing regulatory clarity, the QFC aims to encourage adoption and position Qatar as a hub for digital finance in the region.
