Coinbase cuddles up to UAE policymakers as tensions with US regulators grow
in order to force the agency to respond to a petition that the company filed demanding the SEC publish specific rules for digital assets. Last week, the SEC was ordered by a U.S. court to respond to Coinbase's complaint within ten days., allowing users to trade perpetual futures with currently 5x leverage.
Dubai's Virtual Assets Regulatory Authority was set up last year, and earlier this year, it issued its crypto regulatory framework, laying out a concrete licensing regime for crypto service providers. Last month, the registration authority of ADGM issued a consultation paper to explain the proposed Distributed Ledger Technology Foundations Regulations 2023 and sought public feedback on the proposed new legislative framework for foundations that facilitate DLT and token issuance.
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