The Financial Services Regulatory Authority (FSRA) within Abu Dhabi Global Market (ADGM) has outlined its strategic focus for the 2024 Business Plan, with a strong emphasis on innovation, particularly in the realm of virtual assets (VAs). 
Since 2018, the FSRA has proactively implemented a tailored regulatory framework for virtual assets, leading to the authorization of various entities operating in this space. This framework aligns with international standards, with a significant milestone being the publication of ‘Guiding Principles for the Financial Services Regulatory Authority’s Approach to Virtual Asset Regulation and Supervision’ in September 2022, solidifying global engagement. 
Looking forward to 2024, the FSRA is set to review and enhance its virtual asset regulatory framework. Drawing from experience in supervising virtual asset businesses and staying abreast of regulatory developments globally, the FSRA aims to ensure a responsive and robust framework that adapts to the evolving landscape. 
Emmanuel Givanakis, Chief Executive Officer of the FSRA, said “The Business Plan outlines our strategy and priorities for 2024, through facilitating traditional and emerging activities in the financial services sector and focussing on our continuing development of our regulatory framework in the areas of sustainable finance and digital assets.&nbsp; Innovation is a cornerstone of our ongoing and future plans, in order to enhance the regulation and supervision of financial services and make it more effective and efficient in terms of our own operations and for the benefit of firms operating in the sector and their customers. This innovation is made possible through our positive engagement with stakeholders to ensure we have a comprehensive, progressive regulatory framework and a strategic approach that is relevant to the financial services sector, both currently and in future, whilst ensuring we maintain international standards”. 
A noteworthy aspect of the FSRA’s strategy is the recognition of the transformative potential of decentralized finance (DeFi) solutions. The plan includes admitting DeFi solutions to the RegLab, underscoring the FSRA’s commitment to fostering an innovative environment while upholding regulatory integrity. 
In conclusion, the FSRA’s <a href="https://www.adgm.com/documents/fsra/20231019-adgm-fsra-business-plan-report.pdf" class="ek-link">2024 Business Plan</a> underscores its dedication to innovating in the virtual asset space, positioning ADGM as a leading hub for digital financial activities. The plan ensures that the regulatory framework remains adaptive and supportive of emerging technologies, contributing to the sector’s growth and efficiency. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/112401/fsra_adgm_2024_regulatory_enhancement_vas/">FSRA’s 2024 Vision: Driving Virtual Asset Innovation in ADGM through Continuous Regulatory Guidelines Enhancement for Market Excellence</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

FSRA’s 2024 Vision: Driving Virtual Asset Innovation in ADGM through Continuous Regulatory Guidelines Enhancement for Market Excellence

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