A financial regulator of United Arab Emirates (UAE) will introduce initial coin offering (ICO) regulations in the country by the end of the first half of next year. This development was reported by English-language local news outlet The National on Dec. 21. The Securities and Commodities Authority of UAE (SCA), which regulates and monitors the markets, will reportedly work with the Abu Dhabi Securities Exchange and Dubai Financial Market to develop a platform for ICO token trading. The SCA chief executive, Obad Al Zaabi, declared that the regulator has “signed agreements with law firms to come up with the sandbox and rulebooks for the issuance of ICOs. The article explains that the term “regulatory sandbox” refers to “a framework that facilitates the development of the financial technology industry.” Read more….
