Overview
- The updated Crypto Token Regulatory Framework took effect on January 12, 2026, applying to regulated activities conducted in or from the Dubai International Financial Centre.
- GEN Rule 3A.2.2 bars financial services involving privacy tokens and prohibits “privacy devices” such as mixers, tumblers and other obfuscation tools used to hide transaction details.
- The DFSA ended its recognized-token list and now requires licensed firms to perform, document and continuously review token suitability assessments for the assets they offer.
- Stablecoins are redefined as “Fiat Crypto Tokens” that must be fiat‑pegged and backed by high‑quality, liquid reserves capable of meeting redemptions under stress, with algorithmic designs excluded from the stablecoin label and treated as general crypto tokens.
- Currently recognized fiat‑backed tokens under the DFSA criteria include Circle’s USDC and EURC and Ripple’s RLUSD, with firms revising listings and disclosures to meet the new standards.