ADGM FSRA Releases Final Rules on Fiat-Referenced Tokens

The Financial Services Regulatory Authority (FSRA) of ADGM has finalised amendments to its regulatory framework governing regulated activities involving Fiat-Referenced Tokens (FRTs).

This follows extensive industry engagement and feedback received on Consultation Paper No. 9 of 2025.

The amendments, effective from 1 January 2026, outline the FSRA’s approach to the “acceptance” of FRTs within ADGM, expand the scope of regulated activities related to FRTs, and update the rules applicable to authorised persons that hold, control, or issue FRTs.

Further guidance on the framework will be issued by the FSRA in due course.