With the rise to funding via ICOs worldover in the last two years, United Arab Emirates (UAE) will soon enable domestic firms to raise capital via ICOs. Starting tentatively early next year, ICOs will be recognized as ‘securities’ by authorities. New regulations are currently in draft.
Obaid Saif Hamad Al Zaabi, CEO, Securities and Commodities Authority, UAE:
“The board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019.”